Gold continues lower?

The price of gold failed to hold above $1,953 and opened the opportunity for further weakness towards $1,900. However, there has been no significant bearish movement so consolidation could also take place near $1,953. Traders will maintain a bullish outlook and wait for a bullish reaction near the support point for opportunities to enter long positions.

Today’s critical levels to watch:

Support: $1,900, $1,850

Resistance: $1,950, $2,000, $2,069, $2,074

Silver consolidation between $23.00 – $23.90

Silver price made a recovery in last week’s trading but there was no continuation of the increase this week. The pair seems to continue its consolidation between $ 23.00 – $ 23.90 and traders will be waiting for close outside the area. Overall, if the pair can make a higher swing low near $23.00 then the direction of the trend could turn more bullish.

Today’s Critical levels to watch:

Support: $23.90, $23.00, $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil bullish attempt

Crude oil prices continued to strengthen after production cuts by OPEC. However, the price hasn’t managed to form a higher swing high point. Bearish pressure occurs today and there is a possibility that the decline may take place towards $77.13. Traders will hold long positions and wait near $80.00 and $77.13 if the price manages to reach them for opportunities to add to long positions.

Today’s critical level to watch:

Support: $80.00, $77.13, $70.00, $65.00

Resistance: $85.00