Gold looking for a $2,000 breakout

Gold prices moved up aggressively and returned to the bullish trend. The price is now approaching the $2,000 point and will try to break through that point. In the long term, this point will certainly be penetrated and the bullish trend will continue. Traders should wait for a bearish correction to the support point for the opportunity to enter a long position.

Today’s critical levels to watch:

Support: $1,900, $1,850, $1,800

Resistance: $1,950, $2,000, $2,069, $2,074

Silver bounce from $23.00

Silver price entered the $23.00 – $23.90 area and maintained its position within the area. For now, the price is supported by the $23.00 level and will try to bounce up towards the $23.90 level. Traders will maintain long positions for now assuming the trend will still be bullish in the long term. Even though it is bullish, no higher swing high point has yet been formed so there is no strong confirmation to become aggressively bullish.

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil closed above $90.00

A bearish reaction occurred in crude oil prices near the $95.00 point. Weakness is now underway and there is a possibility that the price will fall to test the $85.00 level. Traders will still use bearish movements in price as a chance to enter a long position unless a lower swing low point has been formed.

Today’s critical level to watch:

Support: $85.00, $80.00

Resistance: $90.00, $95.00