Gold testing $2,000

Gold prices have reached the $2,000 mark and closed above it last week. This week, gold prices opened near the $2,000 mark and are now seen moving flat. The price will continue to test the $2,000 mark for now and wait for strong bullish momentum. It is possible that gold prices will only start to move again after the Fed’s interest rate announcement in November. Traders should continue to hold long positions if they still have them from the previous support point.

Today’s critical levels to watch:

Support: $1,950, $1,900, $1,850, $1,800

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

Silver bullish continuation above $23.00

Silver prices closed near $23.00 last week and are now seen sliding up towards $23.90. The trend of the price is still bullish and traders will wait for a close above $23.90 for further confirmation. For now, a higher swing low is forming near the $23.00 mark so there is a chance of continuation of the bullish trend.

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil testing the bottom of the triangle

Bearish pressure on crude oil prices is ongoing and prices are currently still at the bottom of the triangle pattern. If the price continues weakening with strong bearish momentum then the decline may reach $77.13. For now, traders will use the opportunity to enter long positions when bearish movements occur.

Today’s critical level to watch:

Support: $85.00, $80.00

Resistance: $90.00, $95.00