Gold more testing on $2,000

The bearish pressure on gold prices pushed the price down toward the $2,000 handle. No breakout and close below the level yet which mean there is a chance of a bullish bounce. However, if the price continues moving lower then traders could use the $1,953 and $1,900 levels for a chance to enter more long positions. We think the price will continue the bullish trend and print another record high.

Today’s critical levels to watch:

Support: $1,950, $1,900, $1,850

Resistance: $2,000, $2,069, $2,074

Silver stick near $23.90

Silver prices made a bearish correction and currently trading near the $23.90 level. The price will continue testing the $23.00 – $23.90 area where traders could consider entering long positions on bullish reactions. At the current time, traders will stay sideline and slowly accumulate long positions while waiting for actual bullish reactions.

Today’s Critical levels to watch:

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

Resistance: $25.00, $26.00

Crude oil maintains its position above $70.00

Crude oil prices pushed lower toward the $70.00 handle but managed to maintain the position above the level. At the current time, the price might consolidate near the $70.00 handle and wait for reactions. If the price could bounce from the level then traders will expect the upward movement to target the $77.13 resistance level.

Today’s critical level to watch:

Support: $77.13, $70.00, $65.00

Resistance: $80.00, $85.00, $90.00, $95.25