Gold was lower after testing the previous swing high

The bullish trend of gold prices continued as the price managed to print a new higher swing high. However, it currently undergoes bearish correction and will target the green box area. Traders will wait near the green box area for bullish reactions. As long as the price continues printing new higher highs and higher lows, traders will continue to stick with long positions and add more long positions near support levels.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver bearish correction

Silver prices have reached the $30.00 and $31.50 resistance levels and currently turning lower. The bearish correction is expected and might provide traders with the chance to add more long positions at a lower level. On the lower side, $29.00 is the level to watch for bullish reactions. As long as the price continues printing new higher highs and higher lows, traders will continue to use the chance to add more long positions on bearish corrections.

Today’s Critical levels to watch:

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

Resistance: $30.00, $31.50

Crude oil testing $77.13

Crude oil prices keep testing the bottom of the $77.13 – $80.00 range without a major breakout from the range. The price might continue consolidating inside the $77.13 – $80.00 now. Traders will observe and wait for a close outside of the range to confirm the price next direction. We still think the price could continue the bullish trend. However, a close below $77.13 and new lower low might cancel the bullish outlook.

Today’s critical level to watch:

Support: $77.13

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