Gold bullish attempt

The increase in gold prices occurred in today’s trading towards the channel line. However, a bearish reaction occurred in gold prices so prices moved back to their opening point. The trend is still bullish but there is no strong indication that prices will immediately continue strengthening. Consolidation is likely to continue not far from the $2,000 mark for now.

Today’s critical levels to watch:

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

Resistance: $2,069, $2,074

Silver stick near $23.00

The return of silver prices above the $23.00 mark is an early indication that the trend is turning bullish again. For now, the price is likely to hover near the $23.00 mark while waiting for further catalysts to move. If the price continues its rise then a close above $23.90 is needed to confirm the continuation of the bullish move.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil maintains its position above $77.13

Crude oil prices need to maintain the positions above $77.13 to continue the bullish movement. The price was pushed down today but has returned to above its opening point. Will the price move directly towards $80.00 after this? and continue its bullish trend? Traders will use the bearish correction in crude oil prices as chance to add long positions.

Today’s critical level to watch:

Support: $70.00

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