Gold up only

Gold prices continue the bullish movement and print new record highs which is expected. The price will continue the bullish movement and traders will wait for a bearish correction. Whenever the price starts a bearish correction, traders could wait near the support level to add more long positions. As long as the price continues printing new higher highs and higher lows, the trend will continue bullish.

Today’s critical levels to watch:

Support: $2,685, $2,600

Resistance: $2,750, $2,800, $2,841

Silver major bullish breakout

Silver prices mirror gold prices and start moving upward. It is a new higher since 2013 so traders could expect a more bullish continuation. The same as the gold prices strategy, traders will wait for a pullback in silver prices to add more long positions. On the lower side, the latest broken swing high is the place traders could look for long positions. On the upside, $35.25 is the bullish target to watch.

Today’s Critical levels to watch:

Support: $31.50, $30.00, $29.00

Resistance: $35.25

Crude oil fell below $70.00

Crude oil prices were under bearish pressure as it closed below the $70.00 handle. It seems the price will attempt to extend the bearish movement toward $67.20. However, if the price could immediately close above $70.00 then there is a chance of bullish continuation toward $77.13. No clue yet on the next direction, it is better to stay sideline for now. If the price manages to print a new lower swing low then the bearish trend might continue.

Today’s critical level to watch:

Support: $70.00, $67.20, $65.00

Resistance: $77.13, $80.00, $83.85