Gold new record high

A new record high was formed in gold prices which are still moving bullishly at the moment. This is new territory so traders can only assume the price will continue its bullish run. If the price makes a bearish correction then it is an opportunity for traders to enter long positions near the support point. As long as the trend is still bullish, traders should avoid short positions.

Today’s critical levels to watch:

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

Resistance:

Silver closed above $23.90

The bullish movement continues in silver prices which managed to close above $23.90 yesterday. Currently, price movements will still be bullish with the $25.00 – $26.00 area as the next upward target. Just like gold prices, traders will continue to accumulate long positions, especially when a bearish correction occurs in prices.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil rejection from $80.00

The price of crude oil experienced an increase yesterday to above $80.00. But the price experienced a rejection reaction from that point and ended up falling. Currently, price consolidation between $77.13 – $80.00 will continue and traders will wait for further developments. When the price can make a close above the $80.00 point then that is confirmation of the continuation of the bullish trend.

Today’s critical level to watch:

Support: $77.13, $70.00

Resistance: $80.00, $85.00, $90.00