Gold sideway situation

After closing below the channel line, the movement of gold prices does not appear to show the direction of the short-term trend. The decline can continue towards the daily SMA 200 point where it provides an opportunity for traders to add to long positions. However, the price can also immediately continue its bullish movement to target a higher swing high point.

Today’s critical levels to watch:

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

Resistance: $2,069, $2,074

Silver target $21.35

A significant decline occurred in the price of silver below the $23.00 point. Due to the bearish close that occurred, the price has a chance to continue its weakness towards $21.35. Although bearish for now, traders can wait at the $21.35 support point for a bullish reaction and an opportunity to enter a long position.

Today’s Critical levels to watch:

Support: $21.35, $20.00

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil waiting for $77.13

The bullish close above the triangle pattern is confirmation of further strengthening in crude oil prices. The rise toward $77.13 is still awaited and traders will watch the reaction near the resistance point. A close above the $77.13 point would be a confirmation of the continuation of the long-term bullish trend.

Today’s critical level to watch:

Support: $70.00

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