Gold trade back near daily SMA 200

The market situation is still difficult to predict after the Fed’s interest rate announcement. Gold prices experienced bearish pressure and fell below the daily SMA 200. However, the price appears to be moving up again and is back near the daily SMA 200. Consolidation could occur near the daily SMA 200 until the weekly close. The direction of movement of gold prices will still await further reaction. The next higher swing high point or lower swing low point will determine the direction of movement of the gold price.

Today’s critical levels to watch:

Support: $1,900, $1,850

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

Silver bullish pressure toward $23.90

The bearish pressure has eased on silver prices with prices rising quite sharply above $23.00. This upward movement soon reached the $23.90 point and tested it. For now, the silver price will likely consolidate between $23.00 – $23.90 and will wait for a close outside the area. Can the price continue its upward movement, forming a higher swing high and confirming the bullish trend?

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil stick near $90.00

Crude oil prices rose slightly and are now near $90.00. Price consolidation seems to be taking place near the $90.00 mark for now. If the upward momentum can increase then the bullish trend can continue with the target of forming a higher swing high point. On the lower side, further bearish movement could open the path toward $80.00

Today’s critical level to watch:

Support: $90.00, $85.00, $80.00

Resistance: $95.00