Gold hanging near record-high

Gold prices stay near the record high and there is no major reactions yet. The price might continue trading sideways while aiming to extend the bullish movement. When the price starts a bearish correction toward the green box area, traders could wait for bullish reactions to add more long positions. On the upside, $2,611 is the bullish target to watch.

Today’s critical levels to watch:

Support: $2,500, $2,400, $2,143

Resistance: $2,530, $2,611

Silver target $30.00 and $31.50

The movement of silver prices is bullish since it bounces from the $29.00 support level. The price will target the $30.00 and $31.50 resistance levels next. A close above $31.50 and a new higher swing high will confirm the continuation of the bullish trend. However, a close below $29.00 might trigger bearish movement to print a new lower swing low.

Today’s Critical levels to watch:

Support: $29.00, $26.00, $25.00, $23.90, $23.00

Resistance: $30.00, $31.50, $35.25

Crude oil testing $77.13

The upward movement of crude oil prices has reached the $77.13 resistance level. The price will test the resistance level now and traders will wait for reactions. Crude oil prices need a close above $80.00 to confirm the medium-term bullish reversal. If the price turns lower again and manages to print a lower swing low then the bearish trend will continue.

Today’s critical level to watch:

Support: $70.00

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