Gold continues consolidating

Gold prices are still hovering in the green box area with strengthening today. There has been no strong confirmation regarding the direction of the next movement in gold prices. However, as long as the gold price does not continue to weaken and forms a lower swing low point, the possibility of the bullish trend continuing is still high. For now, traders will wait for confirmation of closing outside the green box area for the next direction of movement.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver testing $29.00

Silver prices weakened to below $29.00 yesterday. However, the price is currently trying to move up and made a close above $29.00 by the end of the week. If prices can bounce up sharply then the bullish trend can continue immediately. The $30.00 and $31.50 points are still resistance points that traders need to pay attention to.

Today’s Critical levels to watch:

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

Resistance: $31.50, $35.25

Crude oil ranging

There has been no change in the crude oil price situation which continues to be in the $77.13 – $80.00 area. Price will continue its consolidation and traders will wait for a close outside the area. Because the price returned to the area after the breakout, bull traders are now still in control. When a higher swing high point is formed, the bullish trend can continue. However, if the price immediately moves down sharply and manages to form a lower swing low point, then the $70.00 point will be the target for the decline.

Today’s critical level to watch:

Support: $77.13, $70.00

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