Gold continues toward $1,900?

US inflation data continues to decline, indicating that the chances of further rate hikes are getting smaller. However, the price of gold is still under bearish pressure and is likely to reach $1,900 in the near future. Traders will wait near the support point for a bullish reaction and 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 waiting for further confirmation

A close in silver prices below $23.00 is bearish and there is a chance of further decline towards $21.35. However, no lower swing lows were formed so there is a possibility of a bullish reversal from the current point. If the price can move up and close above $23.00 then there is a chance for further gains.

Today’s Critical levels to watch:

Support: $21.35, $20.00

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil more bullish pressure

Crude oil prices continue to move up in line with production cuts and also the depletion of oil reserves in the U.S. A higher swing high has formed so the trend is bullish. When the price moves lower to make a bearish correction, then it is an opportunity for traders to enter long positions.

Today’s critical level to watch:

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

Resistance: $85.00