Gold bearish continuation

The decline in gold prices is still ongoing in line with the weakening of the stock market. The current move appears to be a market reaction before next week’s interest rate announcement. If the gold price manages to reach the green box area, traders can use this opportunity to enter a long position when a bullish reaction occurs.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver breakout below $29.00

The bearish movement in silver prices managed to break below the support point of $29.00 so that the decline could continue toward the $25.00 – $26.00 area. Traders will observe for bullish reactions near this area. When the price can bounce up strongly from this area, traders can enter a long position.

Today’s Critical levels to watch:

Support: $29.00, $26.00, $25.00, $23.90, $23.00

Resistance: $30.00, $31.50, $35.25

Crude oil has more bearish pressure near $77.13

The price of crude oil is still under bearish pressure at $77.13. The decline continues today but the price seems to be moving not far from the $77.13 point. Consolidation is likely to continue near $77.13 and traders will continue to watch the price reaction for now. If the price falls with strong bearish momentum then there is a possibility that the decline may continue towards the $70.00 point.

Today’s critical level to watch:

Support: $77.13, $70.00

Resistance: $80.00, $83.85, $85.00, $90.00