Gold bounce from green box area

A bounce from the green box area occurred again in gold prices and could signal the start of a new bullish movement. However, this bullish movement needs to form a higher high above the bearish candlestick that formed at the beginning of June. If the price continues its strengthening then it will try to form a new record high point. Meanwhile, if there is a bearish reversal below the green box area then the trend direction may change to bearish.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver target $31.50

Silver price has moved up away from the $29.00 mark and will now target the $31.50 mark. The bullish trend is still ongoing and the price needs to form a higher swing high to confirm its continuation. Still the same as before, this time a higher swing low point was formed around $29.00. If this point is broken down then the trend direction may change to bearish for a while.

Today’s Critical levels to watch:

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

Resistance: $31.50, $35.25

Crude oil correction toward $80.00?

After successive increases in crude oil prices, today’s prices appear to be moving downwards. There is a possibility that the price will move bearish towards the $80.00 level. If the price touches this point and gives a bullish reaction, traders can consider adding a long position. The next upside target is the $83.85 point.

Today’s critical level to watch:

Support: $80.00, $77.13, $70.00

Resistance: $83.85, $85.00, $90.00