Gold bullish rally

The opportunity to enter a long position seems to be gone for traders who do not have positions. The price of gold bounced from the $2,000 level and did not stop again to make a bearish correction. It immediately broke through the January high. The bullish movement this time has great momentum so it is very possible to continue and form a new record high point.

Today’s critical levels to watch:

Support: $2,000, $1,950, $1,900, $1,850, $1,800

Resistance: $2,069, $2,074

Silver retesting $23.00

Silver price increases brought the price back to the $23.00 resistance level. This bullish pressure follows the price of gold which is currently moving up. However, silver prices have not been able to penetrate the $23.00 level so no higher swing high point has yet been formed. If this bullish pressure continues then a close above $23.90 is likely to happen in the near term.

Today’s Critical levels to watch:

Support: $21.35, $20.00

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil climbs above $80.00

As written in previous analyses, the trend of crude oil prices is bullish as higher swing high and higher swing low points continue to form. Today, the price moved up above the $80.00 point and will likely close above it at the end of the trading day. The bullish trend is starting again and the price may continue strengthening with the $90.00 point as the next long-term target.

Today’s critical level to watch:

Support: $77.13, $70.00

Resistance: $80.00, $85.00, $90.00