Gold new record high

The bullish movement has resumed in gold prices after the Fed confirmed that there was no change in plans regarding interest rate cuts this year. The trend is bullish so traders should continue to avoid short positions at this time. When a bearish correction occurs in gold prices, traders will wait near the support point for the opportunity to add to long positions.

Today’s critical levels to watch:

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

Resistance:

Silver trade inside $25.00 – $26.00

Silver prices experienced a bullish situation in line with the weakening of the U.S. dollar index. The bullish movement is inside the $25.00 – $26.00 area and will continue to test it. A close above this area would confirm the continuation of the long-term bullish trend in silver prices.

Today’s Critical levels to watch:

Support: $23.90, $23.00, $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil moving toward $80.00

Crude oil prices appear to be experiencing selling pressure and are likely to reach $80.00 shortly. A test of the support point will occur and traders will wait for a bullish reaction. When a bullish reaction occurs, traders can add to long positions. If the price continue the bearish movement and close below $77.13 or the trendline then the trend might turn bearish.

Today’s critical level to watch:

Support: $80.00, $77.13, $70.00

Resistance: $85.00, $90.00