Gold has a more bullish movement

Gold prices printed a new higher high today after the release of CPI data. It seems the price could continue the bullish movement and print a new higher swing high. Traders who have long positions since the $2,530 – $2,550 area could continue to hold the positions now. When there is another bearish correction in the price, traders could wait near the support level for a chance to add more long positions at a lower level.

Today’s critical levels to watch:

Support: $2,685, $2,600, $2,550, $2,530

Resistance: $2,750, $2,800, $2,841

Silver is supported by $31.50

Silver prices have closed above the $31.50 level and are currently supported by it. The price might attempt to continue the bullish trend and target a new higher swing high. On the lower side, if the pair close below $31.50 and fall below $30.00 then the trend could turn bearish. Under the current situation, whenever there is a bearish correction, traders could continue to use $31.50 and $30.00 as levels to add long positions.

Today’s Critical levels to watch:

Support: $30.00, $29.00

Resistance: $31.50, $32.50, $35.25

Crude oil moving above $70.00

Crude oil prices gaining ground today as it climb above the $70.00 level. The price will attempt to print a new higher high to confirm a bullish reversal. If the price could continue the upward movement then $77.13 will become the medium-term bullish target to watch. Despite the situation, we could say no breakout from the $67.20 – $70.00 area yet. If the price returns inside the area then consolidation will continue.

Today’s critical level to watch:

Support: $67.20, $65.00

Resistance: $70.00, $77.13, $80.00, $83.85