Gold more consolidation near $1,953

The price of gold continues to trade near the $1,953 level and the direction of the next movement has not been confirmed. In the long term, the direction of the gold price is bullish and we expect it to continue rising to form new records high. However, if the price continues to decrease, the SMA 200 can be a target for declines and a place to enter long positions.

Today’s critical levels to watch:

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

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

Silver continues toward $25.00 – $26.00

Silver prices closing above $23.90 is a confirmation of the continuation of the bullish trend. The silver price will try to move up towards the $25.00 – $26.00 area. If the price can close above $26.00 or form a higher swing high then the bullish trend can continue. On the other hand, if the price restarts the bearish movement then it might target the $21.35 level.

Today’s Critical levels to watch:

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

Resistance: $25.00, $26.00

Crude oil make another bearish attempt

The price of crude oil is currently under bearish pressure below $70.00. No lower low printed on the daily chart yet in the previous bearish attempt. However, observing the candle close, there are more bearish candlesticks with strong momentum. It can be said that the sentiment is bearish and the bear traders have the upper hand. For now, traders should watch price developments by observing new higher high or lower low.

Today’s critical level to watch:

Support: $70.00, $65.00

Resistance: $77.13, $80.00, $85.00