Gold upward pressure

The increase that occurred in gold prices last week was completely erased at the beginning of this week. However, gold prices appear to be trying to move up again yesterday and today. If the price continues to weaken then the green box area is a place where a bounce is likely to occur. Meanwhile, if the price immediately rises back above last week’s high then the strengthening could continue to form a higher swing high.

Today’s critical levels to watch:

Support: $2,143, $2,074, $2,069, $2,000

Resistance: $2,400

Silver hovering below $31.50

The price of silver briefly tested a point near $31.50 and moved down again. The price is currently seen moving flat below the $31.50 mark and awaits further bullish pressure. If the price can close above $31.50 and form a higher swing high then the bullish trend may continue. Meanwhile, if the price is still pushed down then there is a possibility that the $29.00 point could experience a test again.

Today’s Critical levels to watch:

Support: $30.00, $26.00, $25.00, $23.90, $23.00

Resistance: $31.50, $35.25

Crude oil further bearish movement

Bearish pressure on crude oil prices continues where prices have formed a bearish closing for 3 days. Currently, the price continues to weaken and soon reaches the $80.00 point. Traders will watch the reaction of the price near the $80.00 point. If a strong bullish bounce occurs then traders can enter long positions. Further weakness below $80.00 would open the door to a decline towards $77.13.

Today’s critical level to watch:

Support: $80.00, $77.13, $70.00

Resistance: $83.85, $85.00, $90.00