Gold consistently moving upward

The bullish movement of gold prices continues as the price prints a new higher high. There is no bearish sign yet though the price turned lower today. Traders could observe the price reactions around $2,700 – $2,720 if it makes a bearish correction. When there is bullish reactions, traders could add long positions targeting a new record high.

Today’s critical levels to watch:

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

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

Silver no bullish continuation yet

Silver prices are slightly lower today and there is no new higher high printed on the chart. The price might trade not far from the $30.00 level with $31.50 as an upward target. On the lower side, $29.00 – $30.00 is a support area where traders could accumulate long positions. On the upside, if the price could break out and close above $31.50 and print a new higher swing high then the bullish trend could continue.

Today’s Critical levels to watch:

Support: $30.00, $29.00

Resistance: $31.50, $32.50, $35.25

Crude oil slightly bullish reaction

The price of crude oil extended its bearish closes for the fifth day. There are no bullish reactions yet and the price continues moving lower today. Fortunately, there are slight bullish reactions today which might stop the bearish movement. If the price could reverse upward, and climb above $77.13 then the bullish trend could continue. On the lower side, a new lower swing low will cancel the current bullish outlook.

Today’s critical level to watch:

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

Resistance: $80.00, $83.85