Gold stick near $1,953

The movement from the price of gold is likely to flatten near the point of $1,953 and traders will wait for developments this week. If prices can bounce up and move sharply after the Fed announcement then the bullish trend could continue. Conversely, if the decline continues, the daily SMA 200 point can be a target for a decline.

Today’s critical levels to watch:

Support: $1,950, $1,900, $1,850

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

Silver moving lower toward $23.90?

The silver price experienced a bearish reaction from $25.00 and there is a possibility for the price to move down towards $23.90 to test it. Still the same as the previous analyses, traders will use every bearish correction as an opportunity to increase long positions. We think the bearish pressure will stop near the $23.00 – $23.90 area.

Today’s Critical levels to watch:

Support: $23.90, $23.00, $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil climb above $77.13

Bullish pressure was experienced by the price of crude oil which rose above $77.13 today. Price will try to make a close above the $77.13 point and also the trendline. As written in last week’s analysis. If the price can make a close above these two points then the bullish trend can continue. However, traders should wait for further confirmation after the Fed rate announcement.

Today’s critical level to watch:

Support: $70.00, $65.00

Resistance: $77.13, $80.00, $85.00