Gold bearish reversal

After bouncing from the green box area, it turns out that the price of gold immediately reversed downwards and closed bearish yesterday. The gold price situation is bearish again and is likely to continue its consolidation near the green box area. Traders will observe the development of price movements for now near this area. If the price can bounce up and form a higher high then the bullish trend can continue.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver retest $29.00

A strong bullish close occurred in silver prices, but the gains were quickly erased on Friday and there is now a chance of a decline towards $29.00. Traders will wait for the price reaction if another test occurs at $29.00. As long as the price does not form a lower swing low point then there is a chance of a bounce and continuation of the bullish trend.

Today’s Critical levels to watch:

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

Resistance: $31.50, $35.25

Crude oil continues bullish movement

A bearish correction towards $80.00 occurred and crude oil prices managed to give a bullish reaction today. The price is seen moving up and erasing the decline that occurred on Friday. If the price continues to strengthen immediately, the $83.85 point will be the target for increases. Meanwhile, if the price moves down below $80.00 again, a decline towards $77.13 could occur again.

Today’s critical level to watch:

Support: $80.00, $77.13, $70.00

Resistance: $83.85, $85.00, $90.00