Gold extends bullish movement

Gold prices experienced an upward movement after bouncing from the green box area. The current bull run still has quite good bullish momentum and traders who have long positions will continue to hold those positions for now. Still the same as before, after the gold price forms a higher swing high point, traders will wait for a bearish correction for the opportunity to add to long positions.

Today’s critical levels to watch:

Support: $2,143, $2,074, $2,069, $2,000

Resistance: $2,400

Silver moving toward $31.50

Silver’s price rise above the $25.00 – $26.00 mark has managed to reach the $30.00 mark and is heading towards $31.50 soon. There is not much a trader will do other than wait for the upside target to be reached and the price to react. When there is a decline, traders will wait near the support point for the opportunity to add to a long position near the support point.

Today’s Critical levels to watch:

Support: $26.00, $25.00, $23.90, $23.00

Resistance: $30.00, $31.50

Crude oil continues testing $80.00

The bounce in crude oil prices from $77.13 has brought prices up to $80.00. Currently, consolidation will still take place inside this area and traders will wait for a close to occur outside the area. When the price successfully closes outside the area, traders will get a confirmation of the direction of the next movement. It is estimated that crude oil prices will continue their bullish movement so that traders will continue to accumulate in the $77.13 – $80.00 area.

Today’s critical level to watch:

Support: $77.13

Resistance: $80.00, $83.85, $85.00, $90.00