Gold record high

Growing uncertainties in the global market situation making central banks and government to flock into gold. Gold prices finally reached the $3,000 handle today, and it is not showing weakness yet. We might see the bullish movement continue, but traders will stay cautious on possible sudden pullback in price. As mentioned before, if the prices make a bearish correction, then it is chance for traders to add more long positions.

Today’s critical levels to watch:

Support: $2,981, $2,900, $2,800

Resistance: $3,000

Silver moving toward $35.25

The $35.25 target on silver prices is not that far now. The price could continue the current bullish trend and reach the level eventually. However, a bearish pullback could happen too before push upward. On the lower side, $33.00 – $33.25 will become the area to watch for bounce reactions.

Today’s Critical levels to watch:

Support: $32.50, $31.50, $30.00, $29.00

Resistance: $35.25

Crude oil stick near $67.20

The situation of crude oil prices is neutral near the $67.20 now. The price might continue to consolidate between $65.00 – $67.20 while waiting for the next movement. If the price breakout lower and print a new lower swing low, then the bearish trend will continue. On the upside, a close above $67.20 with strong bullish momentum will open the way toward $70.00.

Today’s critical level to watch:

Support: $65.00

Resistance: $67.20, $70.00, $77.13, $80.00, $83.85