Gold more ranging movement

Gold prices are holding above the $2,000 mark but are still generally moving sideways at the moment. Traders appear to be waiting for further data regarding inflation to determine the Fed’s reaction. In the long term, gold prices are on a bullish path and traders will continue to take advantage of the decline in prices as an opportunity for long positions.

Today’s critical levels to watch:

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

Resistance: $2,069, $2,074

Silver testing $23.00

Silver prices moved up again and are now near $23.00. The movement of the price is likely to be sideways near the $23.00 mark while the test progresses. A bullish close above it or $23.90 could be a confirmation for the continuation of the bullish move. Meanwhile, a bearish reaction from the $23.00 mark could bring the price down further towards $21.35.

Today’s Critical levels to watch:

Support: $21.35, $20.00

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil testing $77.13

A bullish confirmation has occurred in the price of crude oil which rose above $77.13. The price is likely to test $77.13 before continuing its rise. Traders can use the decline in prices as an opportunity to add to long positions. Without major bearish reactions, the price could target $90.00 and $95.00 resistance levels in the long-term.

Today’s critical level to watch:

Support: $70.00

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