Gold aims for record-high

The bullish movement of gold prices continues today but it experiences bearish pressure. The price traded below the opening level now and might settle not far from the opening level. If there is no change to the bullish situation then we will see gold prices claim a new record high. On the other hand, if the price starts another bearish correction then traders will wait near support levels for a chance to add more long positions.

Today’s critical levels to watch:

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

Resistance: $2,611

Silver bearish rejection from $31.50

Silver prices fell below Friday’s low today with moderate bearish momentum. However, the bearish pressure has subsided and the price has started to recover. At the current time, the price is trading back inside Friday’s range. If the price can maintain the position near $31.50 and break out above it then traders will expect a continuation of the bullish trend.

Today’s Critical levels to watch:

Support: $30.00, $29.00

Resistance: $31.50, $35.25

Crude oil start moving lower again?

Crude oil prices get rejected from the $77.13 level and look to lose altitude. The price might attempt to move lower and target the $70.00 level. Traders will monitor the price movement inside the $70.00 – $77.13 range for now. There is no strong clue on the price next direction. Traders could use the $70.00 – $77.13 range as a place to apply a range trading strategy.

Today’s critical level to watch:

Support: $70.00, $67.20, $65.00

Resistance: $77.13, $80.00, $83.85