Gold testing previous swing high

Gold prices are gaining and currently trading near the previous swing high. If the level could be broken then gold prices will continue the upward movement to target a new record high. On the other hand, if a bearish rejection happens then gold prices might turn lower to test the trendline. Traders could wait for bullish reactions near the trendline for a chance to add long positions.

Today’s critical levels to watch:

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

Resistance: $2,685, $2,750, $2,800, $2,841

Silver above $29.00 – $30.00 area

The bullish reaction from the $29.00 – $30.00 brought silver prices upward. It is now on the path to target the $31.50 resistance level. If the price could break out and print a new higher swing high then the situation could turn bullish again for long term. However, if the price breaks lower and prints a new lower swing low then the trend will turn bearish.

Today’s Critical levels to watch:

Support: $30.00, $29.00

Resistance: $31.50, $32.50, $35.25

Crude oil retesting $77.13?

Crude oil prices made a bearish close yesterday which might confirm a bearish correction to retest the $77.13 level. The support level is the place traders could look to add long positions. At the current time, traders will wait for the price to reach the level and form bullish reactions to enter long positions.

Today’s critical level to watch:

Support: $77.13, $70.00, $67.20, $65.00

Resistance: $80.00, $83.85