Gold more consolidation near box area

Gold prices are now near the green box area, and no significant reaction has occurred. Consolidation continues near the top of the area while traders wait for a bullish reaction. If there is a strong bullish bounce then gold prices can immediately continue their bullish trend. Meanwhile, if a further decline closes below the green box area then the bearish correction will continue with $2,143 as the downside target.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver continues sideways

After a sharp bearish correction, silver prices turned out to be moving sideways. There is no confirmation yet regarding the direction of the next movement. If the price is moving lower then the $25.00 – $26.00 area is a downside target to pay attention to. The trend is still bullish with the $30.00 and $31.50 points as long-term upside targets. For now, every decline is an opportunity to enter a long position.

Today’s Critical levels to watch:

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

Resistance: $30.00, $31.50

Crude oil sticks near $83.85

The price of crude oil moved up and tested the $83.85 point. There has not been a strong close above that point so the current price still has the opportunity to fall towards $80.00. Consolidation between $80.00 – $83.85 is still underway and traders will wait for a close outside the area. In the long term, the trend is still bullish and there is a chance of strengthening towards the $90.00 level.

Today’s critical level to watch:

Support: $80.00

Resistance: $83.85, $85.00, $90.00