Gold trading near $1,953

Still the same as before, the movement of the gold price is trading around the $1,953 level. There haven’t been any major developments and the price will continue its sideway movement in the meantime. Traders will wait for further developments on whether the price will weaken further or move up to continue the bullish trend. If the price continues moving down then the $1,900 level is a support level to watch.

Today’s critical levels to watch:

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

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

Silver waiting for a breakout from the $23.00 – $23.90 area

The consolidation between $23.00 – $ 23.90 is still ongoing in silver prices. The trend is bullish but there is also a chance of a decline towards $21.35. Traders will now wait for the price to make a close outside the $23.00 – $23.90 area to determine the next direction of silver prices.

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil bounced from $70.00

Crude oil prices bounced from the $70.00 level yesterday. The price is moving up again and will try to go to the $77.13 level. No change in the situation of crude oil prices since before. If the price can make a close above $77.13 then the bullish trend can continue. Conversely, if the price closes again below $70.00 then the decline could continue towards $65.00 to form a lower swing low.

Today’s critical level to watch:

Support: $70.00, $65.00

Resistance: $77.13, $80.00, $85.00