Gold tested $1,953

Gold price was seen trying to continue its bullish movement but experienced rejection near $1,953. This bearish rejection occurred due to the strengthening that occurred in the U.S. dollar index after the release of job data. Uncertainty has emerged regarding the Fed’s interest rate forecast, with market players seeing the possibility of more increases. For now, gold prices are trading lower but there is no confirmation of a further decline. If prices immediately continue the upward movement in next week’s trading, the bullish trend can continue immediately.

Today’s critical levels to watch:

Support: $1,900, $1,850

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

Silver moving toward $23.90

Silver prices apparently experienced a bearish reaction after testing the level near $25.00. The current decline is not very good for bull traders because no higher swing high point formed. If the price falls sharply and forms a lower swing low point then the bearish trend will resume. For now, traders will watch for price reaction near the $23.00 – $23.90 area.

Today’s Critical levels to watch:

Support: $23.90, $23.00, $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil new higher swing high

Crude oil prices continue to strengthen and have now formed a higher swing high point. The state of the price has become bullish and traders who entered long positions during the previous bearish correction can continue to hold positions. As long as the price continues to form higher swing highs and higher swing lows, traders will continue to maintain a bullish position.

Today’s critical level to watch:

Support: $80.00, $77.13, $70.00, $65.00

Resistance: $85.00