Gold continue lower?

The gold price situation can be said to be bearish in the short term after the price falls below the channel line. A decline could still occur with the daily SMA 200 point as the decline target. However, the trend of gold prices is still bullish for the long term so the ongoing bearish correction is an opportunity for traders to add to 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 bearish continuation

Silver price took a bearish downward path towards $21.35. Prices fell sharply today making the situation bearish. If the price can immediately move up and close near the opening point then this will cancel today’s bearish state. Traders can only wait near the $21.35 mark for a bullish reaction and long position opportunities.

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil target $77.13

After consolidating in a triangle pattern, the price of crude oil has succeeded in breaking upwards and now has the opportunity to continue its bullish movement towards $77.13. As written in the previous analysis, the price needs a close above $77.13 to confirm the continuation of the bullish trend.

Today’s critical level to watch:

Support: $70.00

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