Gold bearish continuation?

After the Fed announced interest rates and plans to hike the interest rate 2 times for the rest of the year, gold prices experience bearish pressure. This downside movement can reach the $1,900 level where traders can use the opportunity to enter long positions. The trend remains bullish for the long term and when it proves that the Fed cannot raise interest rates further, the price of gold will begin to continue its upward movement.

Today’s critical levels to watch:

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

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

Silver return inside $23.00 – $23.90

Silver prices experienced bearish pressure again from $23.90 and soon will reach $23.00. Consolidation is likely to continue within the $23.00 – $23.90 area and traders will again wait for prices to make a close outside this area. As long as the price is moving within the area, traders can do range trading until the price leaves the area.

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil rejection from $70.00

The price of crude oil is not in a favorable position where prices continue to be under bearish pressure. Attempts to move above $70.00 failed and the candlestick formed a bearish close yesterday. The price is back lower to test the trendline. Consolidation is likely to take place between $70.00 and the trendline. Traders should wait for confirmation of a close outside the consolidation area for now.

Today’s critical level to watch:

Support: $65.00

Resistance: $70.00, $77.13, $80.00, $85.00