Gold testing green box area

Gold prices are experiencing a bearish correction after testing the previously formed swing high point. Currently, traders will observe the price reaction near the green box area. If a strong bullish bounce reaction occurs then traders can enter a long position with the target of forming a higher swing high point. Meanwhile, a decline below the green box area will bring gold prices into a longer bearish correction phase as it forms a lower swing low point.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver Target $29.00

A profit-taking reaction is underway after the silver price reached $31.50. The decline is underway and the $29.00 point will be the downside target. Traders will now wait for the bearish correction to complete and a bullish reaction to occur near the support points for long position opportunities. The long-term trend is still bullish so traders should only consider long positions rather than short positions.

Today’s Critical levels to watch:

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

Resistance: $30.00, $31.50

Crude oil stick near $77.13

Bearish pressure is still present on crude oil prices where the price is currently near $77.13. The decline that occurred was stalled near $77.13 and currently, a bullish movement is visible. If the price can bounce up strongly then there is a chance the bullish trend can continue. Meanwhile, a decline and close below $77.13 could be a confirmation of the continuation of the strong bearish trend.

Today’s critical level to watch:

Support: $77.13

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