Gold continues toward $2,000

The Fed decided to raise interest rates by 25 bps and plans one more increase in September. This situation is in accordance with market expectations and provides fresh air for instruments against the US dollar. The price of gold has the opportunity to continue its bullish movement from $1,953 to above $2,000 to form a new record high.

Today’s critical levels to watch:

Support: $1,950, $1,900, $1,850

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

Silver testing $25.00

Silver prices are trying to add to the gains to break the $25.00 – $26.00 area. The price will now consolidate near the $25.00 – $26.00 area and traders who are already in long positions will maintain those positions. Traders will also take advantage of any decline that occurs in the price of silver for opportunities to enter long positions.

Today’s Critical levels to watch:

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

Resistance: $25.00, $26.00

Crude oil sideway above $77.13

The price of crude oil has now traded above $77.13 and is trying to add to its gains. The position of the price is now waiting for further bullish pressure. If the price actually moves down, the $77.13 level can be a reference for traders to add to long positions.

Today’s critical level to watch:

Support: $70.00, $65.00

Resistance: $77.13, $80.00, $85.00