Gold new record high

The bullish situation of gold prices continues with a new record high. The price will target the extension level at $2,841, and traders should continue holding long positions for now. When the price starts a bearish correction, traders could consider entering long positions near the $2,685 support level. As long as the price continues printing new higher swing highs and higher swing lows, there is no confirmation to enter short positions yet.

Today’s critical levels to watch:

Support: $2,685, $2,600

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

Silver getting near $35.25

Similar to the gold prices, silver prices experience upward movement and will soon reach the $35.25 resistance level. No change to the bullish outlook where traders will hold long positions and avoid shorting. If the price turn lower then traders could use the $33.00, $32.50 as places to add long positions when bullish reactions happen.

Today’s Critical levels to watch:

Support: $32.50, $31.50, $30.00, $29.00

Resistance: $35.25

Crude oil experienced bearish pressure

Crude oil price trend continues to be bearish as the price is under pressure. Retalation against Iran is less severe than expected and no major oil facilities are under attack as previously expected. If there is no change in the situation, crude oil prices will remain low and traders will stay sidelined for now. Will a new lower low print or the price climb above $70.00 to return inside the $70.00 – $77.13 area?

Today’s critical level to watch:

Support: $70.00, $67.20, $65.00

Resistance: $77.13, $80.00, $83.85