Gold hanging near the record-high

A decline occurred in gold prices today after a new record high. Even though it is moving down, the bearish pressure that is occurring does not have strong momentum and is still limited within the range of yesterday’s movement. If the price makes a bearish correction towards a point around $2,200 then traders can use this opportunity to add to long positions.

Today’s critical levels to watch:

Support: $2,143, $2,074, $2,069, $2,000

Resistance:

Silver waiting for more bullish pressure

A very strong bullish close occurred in yesterday’s trading. Silver prices are now near $27.00 and are expected to continue their strengthening. If the price moves down then traders will use the $25.00 – $26.00 area as a place to add to long positions. The long-term trend has turned more bullish and it is better to avoid short positions.

Today’s Critical levels to watch:

Support: $26.00, $25.00, $23.90, $23.00

Resistance: $30.00

Crude oil bearish correction?

Crude oil prices continued their strengthening in yesterday’s trading but the bullish momentum seems to be weakening. Currently, the price is being corrected and may move bearish for a while. However, the ongoing trend is bullish so traders will take advantage of any decline in price as an opportunity to add to long positions.

Today’s critical level to watch:

Support: $80.00, $77.13, $70.00

Resistance: $85.00, $90.00