Gold bullish continuation

An increase with very strong bullish momentum occurred in gold prices yesterday. This increase also signals the continuation of the bullish trend for gold prices to set a new record high. It seems that the opportunity to enter a long position no longer exists due to the increase that occurred. However, traders can still wait for a bearish correction to have the opportunity to add to long positions.

Today’s critical levels to watch:

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

Resistance: $2,069, $2,074

Silver closed above $23.00

A close above $23.00 occurred in silver prices where this time a higher swing low was formed. If the price can break up and reach $23.90 then the direction of the trend will continue to be bullish again. As long as no higher swing high point has been formed, the price will likely trade flat not far from the $23.00 point.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil testing $80.00

The price of crude oil increased yesterday and managed to reach $80.00. Currently, a test of $80.00 is underway and there is a slight bearish reaction in the price. If the price can close above the $80.00 point then the bullish trend will continue immediately. For the time being, sideway movement is likely to continue near the $80.00 level.

Today’s critical level to watch:

Support: $77.13, $70.00

Resistance: $80.00, $85.00, $90.00