Gold bearish movement toward $2,000

After forming a new record high, the price of gold experienced a drastic decline and now has a chance to reach the $2,000 mark. Traders will wait for further reaction near this point while there is a strengthening in the U.S. dollar index. When there is a bullish reaction near the support point, it is an opportunity for traders to enter a long position.

Today’s critical levels to watch:

Support: $2,000, $1,950, $1,900, $1,850, $1,800

Resistance: $2,069, $2,074

Silver moving toward $23.00 – $23.90

The bearish rejection from the $25.00 – $26.00 area brought silver prices down drastically and soon reached the $23.00 – $23.90 area. Traders will watch for reaction near the $23.00 – $23.90 area. When a strong bullish reaction occurs, traders can enter a long position assuming the continuation of the bullish movement towards a point above $26.00.

Today’s Critical levels to watch:

Support: $23.90, $23.00, $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil target $70.00

Bearish pressure on crude oil prices continues with prices forming a lower low today. The downward movement of crude oil prices has the potential to decline towards the $70.00 point. Traders can wait for a bullish reaction near this point for a long position opportunity.

Today’s critical level to watch:

Support: $70.00

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