Gold bullish bounce

The weakening in gold prices only lasted a short time and there has been a bounce in the green box area. Gold prices closed bullish yesterday but there has been no continuation of the upward movement today. There is no change in the bullish trend of gold prices, every decline is an opportunity to add to long positions for now.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver waiting for a bullish catalyst

An upward movement towards $30.00 and $31.5 is likely to occur. Silver price managed to make a bullish close yesterday after a strong bearish close previously. If the price moves down towards $26.00 and $25.00 then it is an opportunity for traders to add to long positions.

Today’s Critical levels to watch:

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

Resistance: $30.00, $31.50

Crude oil bullish bounce

Crude oil prices experienced bearish pressure but managed to bounce up from a point near $83.85. The trend is still bullish and a continuation of the bullish movement towards $90.00 is expected. Traders will still maintain a long position with a stop order below the previous swing low point.

Today’s critical level to watch:

Support: $85.00, $80.00

Resistance: $90.00