Gold more bullish pressure

The Fed has signaled an interest rate cut where a rate cut is likely to occur in September. Gold prices were seen moving up yesterday and today are continuing to strengthen. Without significant changes, the price of gold could form a new record high.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver retest $29.00

The return of the silver price to $29.00 will determine the next direction of the silver price movement. If the silver price can rise above $29.00 and close above it then the price can immediately resume its bullish trend. However, if the price turns down then the $25.00 – $26.00 area could be a target for decline.

Today’s Critical levels to watch:

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

Resistance: $29.00, $30.00, $31.50, $35.25

Crude oil climb above $77.13

The heated conflict situation between Israel and Iran has caused crude oil prices to increase again. The price has returned above the $77.13 level and will try to continue strengthening towards the $80.00 level. If the conflict situation escalates and Lebanon is also involved, crude oil prices will continue to strengthen.

Today’s critical level to watch:

Support: $77.13, $70.00

Resistance: $80.00, $83.85, $85.00, $90.00