Gold stay inside triangle pattern

Gold prices experienced a bearish reaction today and are still maintained within a triangle pattern. There is no confirmation yet regarding the direction of the next movement. However, the price trend is still bullish so traders will tend to position themselves to enter long positions. If the price is still moving down then the $2,000 point and the daily SMA 200 could be places where traders consider long positions.

Today’s critical levels to watch:

Support: $2,000, $1,950, $1,900, $1,850, $1,800

Resistance: $2,069, $2,074

Silver stay near $23.00

There are no strong clues as to the direction of the silver price movement. Consolidation is still ongoing not far from the $23.00 point. Will the price move down to form a lower swing low point? Or will the price rise again above $23.90 to continue its bullish trend? We still think the price will resume the bullish trend, especially when it could break out above the trendline.

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil more consolidation

Just like the price of gold, the price of crude oil is also trapped in a triangle pattern. The price may still hold above the $70.00 level so there is a chance of further upside. However, for now, traders should wait for further confirmation with the price exiting the triangle pattern.

Today’s critical level to watch:

Support: $70.00

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