Gold continues bullish movement

The upward movement of gold prices continues without any major change. The price continues printing new higher swing highs and higher swing lows without any sign of retracing yet. Traders will wait for the price to make a bearish retracement for a chance to add more long positions. On the lower side, $2,500 round numbers will become the major support level to watch.

Today’s critical levels to watch:

Support: $2,530, $2,500, $2,400

Resistance: $2,611

Silver bearish reaction

Silver prices reached a level near $31.50 and showed bearish reactions in today’s trading session. The price bearish reactions might be a temporary profit-taking reaction before further upside. Traders will continue to hold long positions and add more long positions when a bearish correction happens. When the price makes a close above $31.50, it will confirm the continuation of the bullish trend.

Today’s Critical levels to watch:

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

Resistance: $29.00, $30.00, $31.50, $35.25

Crude oil hovering above $70.00

Crude oil prices made a strong bullish reaction from the $70.00 handle but there is no bullish continuation happening yet. The price might continue trading near the $70.00 level and traders will wait for further reactions. On the upside, $77.13 will become the bullish correction target. If the price manages to reach the level and form bearish reactions then traders could enter short positions.

Today’s critical level to watch:

Support: $70.00

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