Gold no movement yet

Gold price’s neutral situation continues as the price trades sideways for a few days. There is no confirmation on the next movement yet. If the price started another bearish correction then traders could wait near the $2,530 – $2,550 area or the green box area for bullish reactions. When the price bounces from the support levels, traders could add more long positions targeting a new record high.

Today’s critical levels to watch:

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

Resistance: $2,611

Silver stays above $31.50

Silver prices maintain its position above the $31.50 level and there was a bullish attempt last week. We maintain the bullish outlook and set $35.25 as a long-term bullish target. A bearish correction could happen near the current level and traders will prepare to add more long positions. On the lower side, $30.00 is the level to watch as a support level.

Today’s Critical levels to watch:

Support: $31.50, $30.00, $29.00

Resistance: $35.25

Crude oil reached $77.13

Crude oil prices extended the bullish movement and reached the level near the $77.13 resistance level today. Traders will wait for reactions near the $77.13 level. If the price could surpass it with strong bullish momentum and close above it then the upward movement will continue. As the conflict in the Middle East continues to brew, it is better to avoid shorten crude oil prices for now.

Today’s critical level to watch:

Support: $70.00, $67.20, $65.00

Resistance: $77.13, $80.00, $83.85