Gold has more bullish pressure

Gold prices continued its strengthening and soon reached the upward target of $1,953. There is no change in the situation and traders who already have long positions from a point near the daily SMA 200 can continue to hold them. If the price can immediately move up and make a higher swing high point, the bullish trend can continue immediately.

Today’s critical levels to watch:

Support: $1,900, $1,850

Resistance: $1,950, $2,000, $2,069, $2,074

Silver rejection from a level near $25.00

The bearish reaction occurred in silver prices near the $25.00 point yesterday. Prices closed bearish but this might only be a temporary reaction. If the price can immediately rally and close above $25.00 or $26.00 then the bullish trend can continue. Conversely, if the price turns out to be moving down then consolidation can occur between $ 23.90 – $ 25.00.

Today’s Critical levels to watch:

Support: $23.90, $23.00, $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil continues upward

Crude oil prices continue to add to gains above the $80.00 point and will try to aim for even higher swing highs. It only takes a new higher swing high to confirm the continuation of the bullish trend. Conversely, if the price continues to weaken, the point of $77.13 can again become a bearish target.

Today’s critical level to watch:

Support: $80.00, $77.13, $70.00, $65.00

Resistance: $85.00