Gold hanging near top

Gold prices have little changed today as they remain near the record high. Traders are observing the growing situation in the Middle East and rallying in the U.S. dollar index. Under the current situation, traders will maintain a bullish outlook on gold prices and wait for a bearish correction to add more long positions. On the lower side, $2,530 – $2,550 is the best area to watch for bullish reactions.

Today’s critical levels to watch:

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

Resistance: $2,611

Silver resumed bullish movement above $31.50

Silver prices gaining above $31.50 and are set to continue the bullish trend to target the $35.25 resistance level. Traders will continue to maintain a bullish outlook on the price as it is on the verge of a breakout and printing a new higher swing high. When the price turns lower, it is a chance for traders to add more long positions.

Today’s Critical levels to watch:

Support: $31.50, $30.00, $29.00

Resistance: $35.25

Crude oil bullish reversal

The upward movement of crude oil prices printed a new higher swing high and practically confirmed the double bottom pattern. The price has a chance to extend the bullish movement toward $77.13. If the price turns lower again then $70.00 is the level to watch for bullish reactions and chance to add long positions.

Today’s critical level to watch:

Support: $67.20, $65.00

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