Gold waiting for more reaction

Gold prices closed near the $2,000 handle again yesterday. The price will wait for a further reaction from the level for now. We expect gold prices will continue its bullish movement and target a new record high. From the fundamental side, the U.S inflation number continues to increase to a level has not seen 40 years ago. Higher inflation means a favorable situation for gold prices.

Today critical levels to watch:

Support: $2,000, $1,953

Resistance: $2,074.69

Silver consolidate inside $25.00 – $26.00

Silver prices maintain the bullish pressure and continue trading inside the $25.00 – $26.00 area for now. The price is expected to resume the bullish trend and target the $27.50 resistance level. At the current time, consolidation is happening inside the $25.00 – $26.00. Traders could add more long positions when the price hit the $25.00 support level.

Today Critical levels to watch:

Support: $25.00, $23.90, $23.00

Resistance: $26.00, $27.50

Crude oil stay above $106.00

Another bearish close happened in crude oil prices. Despite the bearish situation, there is no strong breakout below the $106.00 level, and the price stage bullish bounces at the current time. If the price could bounce with strong bullish momentum then traders will prepare for a new bullish leg to target the level above $130.00.

Today’s critical level to watch:

Support: $106.00, $100.00, $90.00

Resistance: $130.00