Gold close above $1,953

The weakening of the U.S. dollar index has opened up bullish opportunities on the price of gold and the price has now risen above the $1,953 level. There has been no continuation of the upward movement but in the long term, the trend of the gold price is bullish. Traders can now continue to accumulate long positions near the support level and continue to hold them as the trend of the dollar index has become bearish.

Today’s critical levels to watch:

Support: $1,900, $1,850

Resistance: $1,950, $2,000, $2,069, $2,074

Silver closed above $23.90

The silver price managed to close above the $23.90 point and was confirmed to continue its upward movement toward the $25.00 – $26.00 area. If the price moves lower then traders will use the $23.90 point as a place to enter long positions. Even though it is bullish, the price needs to immediately form a higher swing high point. If no higher swing high points are formed then the direction of movement could change to bearish again.

Today’s Critical levels to watch:

Support: $23.90, $23.00, $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil target $77.13

The price of crude oil continues its strengthening towards the red trendline and also the $77.13 level. The price will test the resistance point and wait for a reaction. If a bearish repulsion occurs then the price can move down towards the trendline below. Traders will maintain a bullish sentiment and use any downside as an opportunity to enter long positions.

Today’s critical level to watch:

Support: $70.00, $65.00

Resistance: $77.13, $80.00, $85.00