Gold stuck inside box area

There was an increase in gold prices yesterday, but this only lasted temporarily. There is no closure outside the green box area so the consolidation phase of gold prices is still ongoing. Traders will again observe the price reaction inside the green box area for now. If the price still moves down, closes below the green box area, and forms a lower swing low point then the bearish trend will continue towards the daily SMA 200.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver bearish pressure at $29.00

Bearish pressure hit silver prices again at $29.00. Currently, the price has managed to fall and formed a lower low. This bearish situation seems likely to persist for the medium term due to uncertain expectations of a U.S. interest rate cut. As previously written, if the price continues to weaken then the $25.00 – $26.00 area could become a downside target again.

Today’s Critical levels to watch:

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

Resistance: $31.50, $35.25

Crude oil inside $77.13 – $80.00

Crude oil prices are currently in the $77.13 – $80.00 area and still have the opportunity to continue rising. However, as long as the price does not form a higher swing high point, the trend is still bearish. Traders will now wait for a close outside the $77.13 – $80.00 area to confirm the next direction of the move.

Today’s critical level to watch:

Support: $77.13, $70.00

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