Gold nearing record high

Gold price’s upward movement continues without major bearish reactions. The price is getting near the record high before next week’s FOMC meeting. We might see some more bullish pressure near the record high and real reactions after the FOMC meeting. Traders who hold long positions since $2,600 will continue to hold the positions. When a bearish correction happens, $2,700 – $2,715 might become the level to watch for bounce reactions.

Today’s critical levels to watch:

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

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

Silver more consolidations

The silver price looks to attempt to extend the gain toward $31.50 but it is experiencing bearish pressure. If the situation does not change then silver prices will close the day not far from the opening level and prolong the consolidation. Traders will wait for a close above $31.50 and a new higher swing high to confirm the continuation of the bullish trend.

Today’s Critical levels to watch:

Support: $30.00, $29.00

Resistance: $31.50, $32.50, $35.25

Crude oil no bullish close yet

Crude oil prices moved lower for the sixth day and showed a bullish reaction today. However, the trading day has not ended yet which means there is a chance of a bearish reversal. Without any bullish close on the daily chart, it is better to assume that the price might continue the downward movement. When the price could make a bullish close, crude oil could start moving upward again to test $77.13.

Today’s critical level to watch:

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

Resistance: $80.00, $83.85