Gold stays inside the green box area

There has been no movement out of the green box area in gold prices. Consolidation is still ongoing in gold prices and traders will continue to wait for a close outside the area to confirm the direction of the next movement. If weakness continues then the $2,146 point could be a downside target that traders can watch.

Today’s critical levels to watch:

Support: $2,143, $2,074, $2,069, $2,000

Resistance: $2,400

Silver trading sideways

After the bounce from the $26.00 mark, silver prices were seen moving flat. Prices are expected to continue their bullish movement and form a higher swing high point. For now, traders will maintain long positions with stops below the $25.00 – $26.00 area. As long as the price can still move up and form a higher swing high and swing low point, the bullish trend will continue.

Today’s Critical levels to watch:

Support: $26.00, $25.00, $23.90, $23.00

Resistance: $30.00, $31.50

Crude oil reached $77.13

The bearish movement in crude oil prices has reached $77.13 and traders will wait for the price reaction. If the price can bounce up with strong bullish momentum then the bullish trend can resume. Conversely, a decline and the formation of a lower swing low will confirm the continuation of the bearish trend.

Today’s critical level to watch:

Support: $77.13

Resistance: $80.00, $83.85, $85.00, $90.00