Gold bearish pressure

The global market situation which is experiencing a decline also affects the price of gold. Although it is estimated that gold can be a hedge against the uncertainty of the global situation, it seems that in the short term, this is not the case. Market players seem to be reducing their positions in various instruments and flowing into the Yen currency at this time. If gold prices continue to weaken, traders can wait at the support point for opportunities for long positions.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver getting near $25.00 – $26.00

Silver prices are on a weakening path towards the $25.00 – $26.00 area and there is no visible change in the situation. Price soon reaches the area and tests it. Traders can wait for a bullish reaction in the area for long position opportunities. However, if the price breaks down with strong bearish pressure then traders will prepare for further declines.

Today’s Critical levels to watch:

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

Resistance: $29.00, $30.00, $31.50, $35.25

Crude oil target $70.00

The price of crude oil fell and formed a lower swing low point so that the $70.00 point would be the next bearish target. Traders will wait for the price to reach the $70.00 or $77.13 point for an opportunity to enter a position. If the price can bounce up from $70.00 then traders can enter a long position. Meanwhile, as long as the $77.13 point continues to be maintained, a bearish position can be taken near that point.

Today’s critical level to watch:

Support: $70.00

Resistance: $77.13, $80.00, $83.85, $85.00, $90.00