Gold trading inside the area

Gold prices pushed lower initially yesterday but it managed to close the day above the opening level. It seems the price might trade sideways near the current level while waiting for further reactions. If the price turns lower then it will continue the ranging movement inside the green box area. At the current time, whenever a bearish correction happens, traders could use it as a chance to add long positions.

Today’s critical levels to watch:

Support: $2,400, $2,143, $2,074, $2,069, $2,000

Resistance: $2,500, $2,530

Silver moving toward $29.00

Silver prices building more bullish pressure and are set to target the $29.00 handle. If the price could close above $29.00 then the bullish trend will immediately continue. However, if the price fails to print a new higher swing high then there is a chance of a bearish continuation toward $26.00. Despite the situation, as long as $26.00 holds out against bearish pressure, traders could continue to add long positions.

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 sticks above $77.13

Crude oil prices managed to bounce from the $77.13 handle and made a bullish close yesterday. The price might consolidate near the $77.13 now and traders could accumulate long positions near it. A close above $80.00 will confirm the continuation of bullish movement. No strong confirmation for now, the price could also consolidate between $77.13 and $80.00 until the breakout happens.

Today’s critical level to watch:

Support: $77.13, $70.00

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