Gold more consolidation

There has been no strong bounce reaction from the green box area in gold prices. The bullish movement is expected to continue, but there is a possibility of a close below the green box area which will cause a deeper bearish correction. For now, traders will continue to use the green box area as a place to add to long positions.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver bearish correction toward $29.00?

Silver price experienced bearish pressure and pushed down below $31.50. It seems that a bearish correction will still take place in silver prices and it is possible that the $29.00 level could become a downside target. However, traders should still avoid short positions and aim to enter long positions at lower points.

Today’s Critical levels to watch:

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

Resistance: $31.50

Crude oil bearish breakout

Crude oil prices fell below $77.13 sharply, confirming the continuation of the bearish trend. This downward movement has the $70.00 point as the downside target. If there is an increase reaching $77.13 then the trader will use this opportunity to enter a short position. Unless the increase that occurs immediately erases all the decrease that occurred today in 1 day.

Today’s critical level to watch:

Support: $70.00

Resistance: $77.13, $80.00, $83.85, $85.00, $90.00