On Tuesday (November 28th), due to the latest comments from Federal Reserve officials increasing expectations of interest rates peaking, gold and silver rose sharply, while crude oil recovered from recent losses.
Gold hits a new historical high
The gold price has broken through the $2000 mark and will continue its bullish trend. Of course, historical highs will be the most recent upward target. Subsequently, traders can use Fibonacci extension tools to target the current upward trend point, which is $2084.88. Due to the continuous decline of the US dollar index, there is currently no reason to hold a pessimistic attitude towards gold prices.
Key levels worth paying attention to today:
Support level: $2000, $1950, $1900, $1850, $1800
Resistance level: $2069, $2074
Silver test in the range of $25.00 to $26.00
Silver prices continue to rise and soon reach the range of $25.00 to $26.00. This bullish trend seems to continue, and traders should avoid short positions. When the price closes above $26.00, it confirms the continuation of the long-term bullish trend. If there is a bearish correction in the price, traders can take advantage of this opportunity to establish long positions.
Key levels worth paying attention to today:
Support level: $23.90, $23.00, $21.35, $20.00
Resistance level: $25.00, $26.00
Crude oil prices remain around $77.13
The crude oil price continues to remain around $77.13, awaiting confirmation of the next trend direction. Integration will occur, and traders will not yet build positions. Traders can also take advantage of the current situation to raise funds and use the area of $70.00 to $77.13 as a place to establish long positions.
Key levels worth paying attention to today:
Support level: $70.00
Resistance levels: $77.13, $80.00, $85.00, $90.00
