Gold stick near green box area

A decline occurred in the price of gold to the green box area and now the price seems to be staying near it. The trend is still bullish, but the ongoing bearish correction phase does not appear to be over. There is still a chance of further decline in price to the next support points. However, a bearish correction in gold prices is an opportunity for traders to add to long positions.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver halts bearish movement

A bearish correction is underway in silver prices however the sharp decline that occurred on Monday appears to have no continuation. If the price continues to weaken, the $25.00 – $26.00 area is a downside target that needs to be considered as a place to add long positions. In the long term, the trend is still bullish and the $30.00 and $31.50 points are upside targets.

Today’s Critical levels to watch:

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

Resistance: $30.00, $31.50

Crude oil testing $83.85

The bearish movement in crude oil prices stopped after yesterday’s bullish close. Today there was an increase that reached $83.85, but there was a rejection reaction. Crude oil prices may consolidate between $80.00 – $83.85 for now. Apart from that, prices also have the opportunity to fall to test the trendline. Traders will use the current opportunity to add long positions at support points when a bullish reaction occurs.

Today’s critical level to watch:

Support: $80.00

Resistance: $83.85, $85.00, $90.00