Gold bullish continuation

Inflation data which continues to show a downward trend provides fresh air for gold prices which are now moving up sharply. Price is expected to test the previous swing high point shortly and form a higher swing high point. Because the trend is bullish, when a bearish correction occurs in gold prices it is an opportunity to enter a long position. However, if the gold price manages to fall and closes below the green box area then the trend will change to bearish.

Today’s critical levels to watch:

Support: $2,143, $2,074, $2,069, $2,000

Resistance: $2,400

Silver testing $31.50

The resistance point of $31.50 is still a big hurdle for silver prices trying to move up. Prices are stuck at that point today and there is no indication that a breakout will occur. Consolidation near this point will still take place and traders will wait for further reaction. When there is a close above $31.50, that is when the continuation of the bullish trend is confirmed.

Today’s Critical levels to watch:

Support: $30.00, $26.00, $25.00, $23.90, $23.00

Resistance: $31.50, $35.25

Crude oil bullish reversal

After the rejection from $83.85 and the subsequent decline in crude oil prices. Finally, there was a bullish close yesterday and the price had the opportunity to continue its upward movement. However, today the price of crude oil is still trading within the area of ​​yesterday’s movement. It is possible that the consolidation between $80.00 – $83.85 will still take place and the price will resume weakening to test the $80.00 point.

Today’s critical level to watch:

Support: $80.00, $77.13, $70.00

Resistance: $83.85, $85.00, $90.00