Gold waiting confirmation

The gold price is still below the $1,953 point so there is a chance of further decline towards $1,900. If the price continues its weakness then traders will be waiting near the $1,900 point and the daily SMA 200 for a chance to enter long positions. When a bullish reaction occurs, it is a confirmation for traders 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 bearish pressure at $23.00

The bearish pressure on the silver price is still ongoing and the price has reached $23.00 at the moment. The price will try to bounce from the $23.00 point to continue its consolidation between $23.00 – $23.90. Traders will be watching for a reaction from prices near $23.00 for now. Long positions can be considered near $23.00 and $21.35.

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil pushed lower

Crude oil prices experienced bearish pressure again today with quite a strong momentum. It seems that the price will decline to test the $80.00 point and also $77.13 if there is no bullish reaction. There is a possibility that another higher swing low will form near $77.13 and confirm the continuation of the bullish trend in crude oil prices.

Today’s critical level to watch:

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

Resistance: $85.00