Gold climb above green box area

U.S. inflation data release showed a decline that was welcomed positively by the market. Currently, the U.S. dollar index is weakening and providing room for strengthening for its opponents. Gold prices also rose leaving the green box area. However, the key to the next move will be waiting for the Fed meeting. If it turns out that the Fed remains adamant about the narrative of inflation and “Higher for longer” then it could be that the direction of the current upward movement will reverse.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver bounced from $29.00

The $29.00 point acted as a support point where the upward bounce occurred and currently silver price has bounced up from there. If the price continues its strengthening after the Fed’s announcement, the $31.50 and $35.25 points will be the next upside targets. Traders will wait for movements after the announcement for further confirmation.

Today’s Critical levels to watch:

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

Resistance: $31.50, $35.25

Crude oil consolidation near $77.13

After returning above $77.13, crude oil prices are seen continuing their strengthening with $80.00 as the target for increases. Prices need a higher swing high to confirm the continuation of the bullish trend. If it turns out that the price moves down below $77.13 then the situation can turn bearish again.

Today’s critical level to watch:

Support: $77.13, $70.00

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