Gold not leaving the green box area

The consolidation phase of gold prices continues with prices near the green box area. There has been no movement with great momentum away from this area. The movement of gold prices will temporarily remain flat near the green box area and traders will observe the price reaction. If the price experiences selling pressure and manages to form a lower swing low point then the bearish trend will last longer.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver stick near $29.00

Bearish pressures are still present on the silver price near the $29.00 mark and the price could still maintain its position near this point. Currently, the price will continue its consolidation near the $29.00 point. Traders will continue to wait for a strong reaction from this support point to confirm the direction of the next movement.

Today’s Critical levels to watch:

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

Resistance: $31.50, $35.25

Crude oil moving toward $80.00

Crude oil prices are now in the $77.13 – $80.00 area and appear to be strengthening. The price is likely to reach the $80.00 mark shortly and test it. As written previously, the price requires the formation of a higher swing high point to confirm the continuation of the bullish trend. As long as there is no higher swing high point, consolidation will still take place between $77.13 – $80.00.

Today’s critical level to watch:

Support: $77.13, $70.00

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