Gold waiting near $1,900

The bearish correction of the gold price has reached $1,900 and currently, the price is still holding near that point. There are no strong bullish indications yet so consolidation is likely to take place near the $1,900 mark. However, if the price weakens, then the daily SMA 200 is the next target to watch for weakness.

Today’s critical levels to watch:

Support: $1,900, $1,850

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

Silver is trading near $23.00

Silver price is currently under $23.00 and trying to form a support area. The price needs a close above $23.00 to be able to move back up toward $23.90. However, because the previous bearish test formed a lower swing high and a lower swing low, there is a tendency for the current trend to be bearish in the short term. When a higher swing high point is formed, there is a chance for the trend direction to change.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil’s upward movement above $70.00

Crude oil prices are moving up above the $70.00 point and are trying to continue their bullish bounce toward the red trendline. Consolidation is still likely to take place between the 2 trendlines and traders will observe the reaction between them. If it turns out that the price moves down again and closes below the blue trendline, then the bearish trend can continue.

Today’s critical level to watch:

Support: $70.00, $65.00

Resistance: $77.13, $80.00, $85.00