Gold maintains the level above $1,850

Gold prices rise after the hotter than expected inflation data. The inflation data recorded a higher level more than 30 years ago. It seems the trend will continue upward for inflation and gold prices will benefit from it. Traders will continue to hold long positions and wait for a bearish pullback for a chance to enter long positions.

Today critical levels to watch:

Support: $1,850, $1,800, $1,780

Resistance: $1,953, $2,000

Silver closed inside the $25.00 – $26.00 area

The price managed to close inside the $25.00 – $26.00 area again since the August breakout. Similar to the gold prices action, silver prices are expected to benefit from the rising inflation and continue its upward movement. A close above $26.00 is long-term bullish confirmation. Short positions will become an option again when the price makes a close below $23.00 or get a major bearish reversal from $25.00 – $26.00.

Today Critical levels to watch:

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

Resistance: $25.00, $26.00

Crude oil bearish correction toward $77.13?

Crude oil prices seem under pressure after the rejection from $85.00. The price made neutral close yesterday but it is currently moving lower today. If the price continues its downward movement then we might see a test on the $77.13 support level where traders could consider long positions on bounce reaction.

Today critical level to watch:

Support: $77.13

Resistance: $82.72, $85.00, $90.00