Gold consolidating near $1,900

The price of gold has a bullish trend for the long term, but currently, the bullish situation is stalled by the Fed’s interest rate sentiment. If the price continues to weaken, traders can wait near the daily SMA 200 for the opportunity to enter long positions. A decline toward the daily SMA 200 is not mandatory, the price could immediately continue its upward movement from the current point and formed a new record high.

Today’s critical levels to watch:

Support: $1,900, $1,850

Resistance: $1,950, $2,000, $2,069, $2,074

Silver waiting for reactions

The current movement of the silver price is bullish and testing the $23.00 point. Beyond the $23.00 point, the price need to break above the trendline to reverse the direction of the current trend. If the price continues to weaken then the movement might be limited inside the triangle pattern with the $21.35 as a support level. Traders can continue to take advantage of the current situation to add more long positions.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude stick near $70.00

Bearish pressure reappeared on the price of crude oil yesterday which pushed prices down to close near $70.00. Currently, the price seems to be able to bounce up and stay bullish. If the price continues its strengthening then consolidation can take place between the red and blue trendlines. Meanwhile, if there is a close below the blue trendline or $70.00 then the trend is likely to become more bearish.

Today’s critical level to watch:

Support: $70.00, $65.00

Resistance: $77.13, $80.00, $85.00