Gold bearish continuation?

Gold prices are under bearish pressure again before the Fed’s interest rate announcement today. The price action is still close to $1,953 and no higher swing highs or lower swing lows have formed. After the announcement, there is a possibility that the gold price will move with great momentum. Traders will wait for confirmation of the direction by today or the weekly closing level.

Today’s critical levels to watch:

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

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

Silver waiting inside $25.00 – $26.00

Silver prices pushed below the $23.90 level and back into the $23.00 – $23.90 area. Currently, the movement of the silver price is likely to wait for further developments. Trendwise, the silver price is still on a bullish trend with the $25.00 – $26.00 area as the target. A close above $26.00 will confirm the continuation of the bullish trend.

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil testing $70.00

The crude oil price bounced off the trendline and also the $67.20 point. At the moment the price looks to be moving up and will try to break through the $70.00 level. If the price continues its increase, the bullish target is $77.13 and also the red trendline. Consolidation is likely to take place again between $70.00 – $77.13.

Today’s critical level to watch:

Support: $70.00, $65.00

Resistance: $77.13, $80.00, $85.00