Gold bearish continuation?

The CPI rate that fell more than expected turned out to have a bearish effect on the price of gold. Prices are currently moving lower ahead of the Fed’s meeting this week. Market participants are speculating that the Fed will not raise interest rates. It can be said that the current situation is uncertain because the price of gold is moving against expectations, while the U.S. dollar index looks weak. Traders should wait for the results of the Fed announcement before entering a position.

Today’s critical levels to watch:

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

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

Silver return inside $25.00 – $26.00

After initially rising above the $23.90 point, silver prices are now experiencing bearish pressure and are back inside the $23.00 – $23.90 range. The next movement of silver prices will await the outcome of the Fed’s meeting this week. Traders should wait for the next close outside the $23.00 – $23.90 area after the Fed announcement to confirm the next direction.

Today’s Critical levels to watch:

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

Resistance: $25.00, $26.00

Crude oil bounced from $67.20

The upward bounce occurred again in the price of crude oil at $67.20 and the trendline line. The situation for crude oil prices is back to neutral and there is a chance to be bullish if prices can close above $70.00 by the end of this week. Traders will wait for the weekly close to confirm the direction of crude oil prices.

Today’s critical level to watch:

Support: $70.00, $65.00

Resistance: $77.13, $80.00, $85.00