Gold more ranging movement

Gold prices are seen increasing from the $1,900 point but there has been no continuation of the upward movement. The consolidation between $1,900 and $1,953 is still ongoing at the moment. Traders will take advantage of the situation to add to long positions. If the price goes further lower and reaches the daily SMA 200 then it is an opportunity for traders to add more long positions.

Today’s critical levels to watch:

Support: $1,900, $1,850

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

Silver stick near $23.00

A bullish close occurred at the end of last week near the $23.00 mark. Even so, there was no continuation of the bullish movement at the start of this week so consolidation will still take place near that point. If silver price continues to weaken then traders will wait near the $21.35 point for opportunities to enter long positions.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil more upward pressure

The bullish closing at the end of last week was bullish for crude oil prices. Because the price of crude oil forms a higher swing high point and has a great chance to continue strengthening. Price consolidation between the 2 trendlines will continue and traders who already have long positions will continue to hold the positions.

Today’s critical level to watch:

Support: $70.00, $65.00

Resistance: $77.13, $80.00, $85.00