Gold bearish continuation

Gold prices have not succeeded in reversing the current bearish pressure. The price has fallen below the $2,000 point so there is now a big chance of weakness towards the daily SMA 200. Traders will wait near the daily SMA 200 for a bullish reaction and long position opportunities. Currently, there is no confirmation and traders can only wait for further developments.

Today’s critical levels to watch:

Support: $1,950, $1,900, $1,850, $1,800

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

Silver testing trendline

The silver price situation is not favorable for bull traders. The price fell below $23.00 and has the opportunity to continue its decline towards $21.35. For now, silver prices are holding near the bullish trendline. If the bounce occurs strongly and the price immediately rises above $23.90 then the bullish trend can continue immediately. The key to continuing the current bullish trend is that silver prices do not form a lower swing low point.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil breaks below $70.00

Crude oil prices were unable to reverse the bearish pressure. The price has now fallen below the $70.00 level and formed an even lower swing low. The weakness has a chance to continue toward the $65.00 level. Traders can only wait for further price reaction near the support point. As long as the price continues to form lower swing low and lower swing high, the bearish trend will continue.

Today’s critical level to watch:

Support: $70.00

Resistance: $77.13, $80.00, $85.00, $90.00