Gold bullish bounce

The decline in gold prices continued yesterday but there was a bullish bounce in today’s trading. The bulls look to try to target the $2,430 mark and the previous record high point. However, if there is a continuation of the bearish movement in gold prices then the Fibonacci Retracement point could become a decline target that traders pay attention to.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver bullish reversal

Silver price is expected to continue its weakness towards $26.00. However, the price looks to be turning bullish today and will try to move up towards $29.00. Still the same as the previous analysis, as long as there is no decline below $26.00 and a lower swing low point is formed, the trend of silver prices will continue to be bullish.

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 target $77.13

A decline towards $70.00 is expected to occur in crude oil prices. However, yesterday there was a strong bullish reversal so the price is expected to move up to $77.13. A close above $77.13 and the formation of a higher swing high would confirm the continuation of the bullish move.

Today’s critical level to watch:

Support: $70.00

Resistance: $77.13, $80.00, $83.85, $85.00, $90.00