On Friday (December 1st), as Wall Street turned a blind eye to Federal Reserve Chairman Powell's attempts to curb interest rate cuts, both the stock market and bonds rose. Gold resumed its bullish trend, silver remained stable in the $25 to $26 range, and crude oil continued its decline.
Gold recovery bullish trend
The gold price trend is bullish for the long term, with a current upward target of $2084. If the price falls, then $2000 may become a support point for traders to consider long positions. Short positions are not recommended unless traders are prepared to engage in high-risk speculative trading.
Key levels worth paying attention to today:
Support level: $2000, $1950, $1900, $1850, $1800
Resistance level: $2069, $2074
Silver fluctuates between $25.00 and $26.00
The silver price has reached the target range of $25.00 to $26.00, and investors will now be trading in this area. If silver prices can close above $26.00, it will confirm the continuation of the long-term upward trend. However, there is still a possibility of a bearish correction, and traders will take advantage of the decline as an 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 continue to decline
The increase in crude oil prices experienced a significant reversal in yesterday's trading, with prices briefly reaching new highs, but ultimately closing in a bearish form and continuing until today. If the price continues to weaken, then the $70.00 point will be a long-term target for traders to focus on when oil prices weaken.
Key levels worth paying attention to today:
Support level: $70.00
Resistance levels: $77.13, $80.00, $85.00, $90.00
