Gold target all-time high

Gold price took off above the $2,000 mark and will now continue its bullish trend. Of course, the record high point will be the nearest target for increases. After that, traders can use the Fibonacci extension which marks the point $2,084.88 as the target for the current upward movement. There is no reason to be bearish on gold prices at this time because the U.S. dollar index has continued its bearish trend.

Today’s critical levels to watch:

Support: $2,000, $1,950, $1,900, $1,850, $1,800

Resistance: $2,069, $2,074

Silver is set to test $25.00 – $26.00

Silver price continued its rise and soon reached the $25.00 – $26.00 area. This bullish movement looks like it will continue and traders should avoid short positions. When the price can make a close above $26.00 then it is a confirmation of the continuation of the long-term bullish trend. If the price makes a bearish correction then traders can use this opportunity to enter a long position.

Today’s Critical levels to watch:

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

Resistance: $25.00, $26.00

Crude oil stick near $77.13

Crude oil prices continue to stick near $77.13 and are waiting for confirmation of the next direction of movement. Consolidation will take place and traders will not enter positions yet. Traders can also use the current situation for accumulation with the $70.00 – $77.13 area as a place to enter long positions.

Today’s critical level to watch:

Support: $70.00

Resistance: $77.13, $80.00, $85.00, $90.00