Gold turned bullish again

The two bearish closes on gold prices’ daily chart were immediately erased by today’s gain. The price moving upward and will attempt to extend the bullish trend to target a new record high. No change to the bullish outlook, as mentioned before, when the price makes a bearish correction then it is a chance for traders to add more long positions. Something to note, if the price could move lower below $2,610 then we will see a medium-term change to a bearish trend.

Today’s critical levels to watch:

Support: $2,550, $2,530, $2,500, $2,400

Resistance: $2,611

Silver return above $31.50

Following the movement of gold prices, silver prices also staged a gain and currently trading above the $31.50 level. The price is expected to continue the bullish trend and move toward $35.25 in the long term. Traders will continue to use the bearish correction in price as a chance to add more long positions at a lower level.

Today’s Critical levels to watch:

Support: $31.50, $30.00, $29.00

Resistance: $35.25

Crude oil bullish reversal

Crude oil prices are under bearish pressure and fell below $67.20 today. However, the bearish pressure has been reversed, and the price trading upward near the $70.00 handle. If the price could close above $70.00 then there is a chance of bullish continuation tomorrow. A close above $70.00 and a new higher swing high will turn the trend from bearish to bullish.

Today’s critical level to watch:

Support: $67.20, $65.00

Resistance: $70.00, $77.13, $80.00, $83.85