Gold continues near $1,953

The consolidation of gold prices near $1,953 is still ongoing ahead of the Fed’s announcement this week. Trendwise, the price of gold is still bullish and any decline is an opportunity to increase long positions. If the decline can continue then the daily SMA 200 point can be a target for the downside. The next upside target is the formation of a new record high.

Today’s critical levels to watch:

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

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

Silver hanging at the middle of $23.90 – $25.00

A bearish correction is being experienced by the silver price which is bouncing from the $25.00 point. The price is likely to reach $23.90 in the near future. Traders will be waiting near the $23.00 – $23.90 area for opportunities to enter long positions. However, if there is a sharp decline after the announcement of the Fed’s interest rate, then traders should “Wait and see” first.

Today’s Critical levels to watch:

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

Resistance: $25.00, $26.00

Crude oil closed above $77.13

A close above $77.13 and also the trendline is a strong bullish confirmation for crude oil prices. The price situation is bullish for the medium-long term and there is an opportunity to start a new bullish trend. If the price can continue to maintain its position above $77.13 and also the trendline until the end of the week then the bullish trend is confirmed.

Today’s critical level to watch:

Support: $70.00, $65.00

Resistance: $77.13, $80.00, $85.00