Gold continues sideways

The movement of gold prices has been sideways for a while near the record high. The price is supported by the green box area and traders will continue to assume that it will continue the bullish trend. However, if the bearish correction continues then traders could use the area to add more long positions with a stop below the previous swing low.

Today’s critical levels to watch:

Support: $2,500, $2,400, $2,143

Resistance: $2,530, $2,611

Silver bearish pressure below $29.00

Silver prices pushed below the $29.00 handle and currently trading below it. Despite the bearish situation, the long-term trend of the price is bullish. Traders will wait until the bearish pressure subsides for a chance to enter long positions. However, the bearish movement could extend toward the $25.00 – $26.00 area which means traders need to plan accordingly to enter long positions.

Today’s Critical levels to watch:

Support: $29.00, $26.00, $25.00, $23.90, $23.00

Resistance: $30.00, $31.50, $35.25

Crude oil bearish continuation

Crude oil prices seems to continue the bearish movement and will attempt to move lower toward the $70.00 handle. The trend is bearish and as long as there is no close above $77.13 the situation will continue bearish. At the current time, the price managed to print a lower swing high in the latest bullish attempt.

Today’s critical level to watch:

Support: $70.00

Resistance: $77.13, $80.00, $83.85, $85.00, $90.00