Gold resumes bullish movement

The trend of gold prices is bullish for the long term and currently, $2,084 is the upside target. If the price moves down then the $2,000 point could become a support point where traders consider long positions. Short positions are not recommended unless the trader is ready to undertake high-risk speculation trade.

Today’s critical levels to watch:

Support: $2,000, $1,950, $1,900, $1,850, $1,800

Resistance: $2,069, $2,074

Silver moving inside $25.00 – $26.00

The upside objective of the $25.00 – $26.00 area has been achieved and silver price will now trade in this area. Still the same as before, a close above $26.00 would confirm the continuation of the long-term bullish trend. A bearish correction is still possible at this point. Traders will take advantage of the decline that occurs as an opportunity to enter a long position.

Today’s Critical levels to watch:

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

Resistance: $25.00, $26.00

Crude oil more ranging near $77.13

The increase in crude oil prices reversed drastically in yesterday’s trading. The price briefly made a higher high but ultimately closed with a bearish pattern. However, today there is no visible continuation of the bearish movement. If the price continues to weaken then the $70.00 point will be a weakening target that traders need to pay attention to.

Today’s critical level to watch:

Support: $70.00

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