Gold turned upward

After weakening over the past few days, gold prices are showing bullish indications today. There is a possibility that the price will start moving up again to form a new record high. However, if the price continues to weaken, traders can wait in the green box area for a bullish reaction and the opportunity to add to long positions.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver more consolidation near $29.00

Bearish pressure is still on the silver price but the price may also hold near the $29.00 support point. Consolidation is still ongoing for now and traders will wait for further reaction. If the price can bounce up strongly then the bullish trend can resume. Meanwhile, a break below $29.00 with strong bearish momentum could push the price toward the $25.00 – $26.00 area.

Today’s Critical levels to watch:

Support: $29.00, $26.00, $25.00, $23.90, $23.00

Resistance: $30.00, $31.50, $35.25

Crude oil moving toward $77.13

The decline continues with crude oil prices below $80.00. Currently, the price is very close to the $77.13 point and will test it shortly. Traders will now wait for the price reaction after testing. If a strong bullish bounce occurs then traders can add to long positions. The price needs to return above $80.00 soon to ensure the bullish trend continues.

Today’s critical level to watch:

Support: $77.13, $70.00

Resistance: $80.00, $83.85, $85.00, $90.00