Gold bearish pressure at $1,780 – $1,800 area

The price experience bearish rejection from the $1,800 and daily SMA 200. Currently, the price is pressuring the $1,780 level and might close below it. Traders are preparing for this week’s FOMC meeting which might announce further rate-hike after this December rate hike.

If the price makes a close below $1,780 after the announcement then traders will prepare for further weakness.

Today’s critical levels to watch:

Support: $1,700, $1,680, $1,600, $1,585

Resistance: $1,780, $1,800

Silver bearish pressure at $23.00

Silver prices managed to climb and close above the $23.00 level which means the price might continue the upward movement toward $23.90. However, the price is currently under bearish pressure and testing the $23.00 level. Traders will wait for the Fed FOMC meeting announcement and the reactions after to determine the next direction of silver prices.

Today’s Critical levels to watch:

Support: $21.35, $20.00, $18.50, $17.73

Resistance: $23.00, $23.90

Crude oil bounce from $70.00

Crude oil prices were slightly higher after bouncing from the $70.00 support level. The price trade slightly upward and might target the $77.13 level. Traders who want to speculate could enter long positions near $70.00 with $77.13 as an initial target. If the price resumes the bearish movement after FOMC interest-rate announcement then the bearish trend is set to continue.

Today’s critical level to watch:

Support: $77.13, $70.00

Resistance: $80.00, $85.00, $90.00, $95.25