Gold neutral

Gold prices not making much movement near the record high. The price traded back and forth but settled not far from the opening level. In the long term, we still think the price will continue the bullish movement and print a new record high. When the price starts moving lower with strong bearish momentum, traders could wait near the support level for bullish reactions to enter long positions.

Today’s critical levels to watch:

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

Resistance: $2,611

Silver supported by $31.50

Silver prices trading upward but no higher swing high printed yet. The price looks consolidating near the $31.50 level for now. Under the current situation, traders will continue to hold long positions while using each bearish correction to add more long positions. On the upside, $35.25 is the long-term target to watch.

Today’s Critical levels to watch:

Support: $31.50, $30.00, $29.00

Resistance: $35.25

Crude oil moving toward $77.13

Crude oil prices made a higher swing high and bullish close yesterday. It means the price trend has turned bullish for the short-medium term. At the current time, the price is attempting to extend the bullish movement toward $77.13 resistance level. A breakout and close above $77.13 could accelerate the gains in crude oil prices and also turn the trend bullish for the long-term.

Today’s critical level to watch:

Support: $70.00, $67.20, $65.00

Resistance: $77.13, $80.00, $83.85