Gold stays near record high

Gold prices are hanging near the record high and waiting for further reactions. The price could continue the bullish movement or start a bearish correction before further upside. Traders will continue to use each bearish correction in the price as a chance to add long positions. On the lower side, $2,483 is the level to watch for bounce.

Today’s critical levels to watch:

Support: $2,400, $2,143, $2,074, $2,069, $2,000

Resistance: $2,500, $2,530

Silver stays above $29.00

Silver prices attempting to continue the bullish movement above the $29.00 handle. The price has returned to a bullish trend and traders could continue to hold long positions for now. On the lower side, $26.00 could become the bearish target but it is less likely to happen now. On the upside, a close above $31.50 might confirm the continuation of the long-term bullish trend.

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 resumes bearish movement

Crude oil prices keep moving lower and lower below $77.13. The price is not far from the $70.00 handle and might reach it soon. A bounce might happen near the level but traders better stay cautious and observe the price reactions next. It might be a bounce to create a new lower swing low before further downside.

Today’s critical level to watch:

Support: $70.00

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