Gold hanging at the middle of $1,900 – $1,953

The decline in the price of gold is expected to reach the $1,900 point and give traders an opportunity to enter long positions near that point. However, currently, the movement of the gold price looks flat and might consolidate between $1,900 – $ 1,953. We expect the price of gold to continue to move down and reach either $1,850 or the 200 SMA. Traders will use the current downside move to enter long positions at a lower point.

Today’s critical levels to watch:

Support: $1,900, $1,850

Resistance: $1,950, $2,000, $2,069, $2,074

Silver stick near $23.00

The silver price is still in the bearish correction phase and may fall toward $21.35. However, at the moment the price looks to be moving up and stuck near the $23.00 point. If it turns out that the price can continue to add to its gains and close above $23.90 then the direction of the trend may turn bullish.

Today’s Critical levels to watch:

Support: $21.35, $20.00

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil bounce from the trendline

The consolidation of the crude oil price is taking place between the trendline and the $70.00 point. Currently, the trend is bearish, so the chances of a downside break are higher. However, as long as prices can continue to stay and bounce off the trendline, there is a chance for an increase. A close above $70.00 could confirm a continuation of the bullish move.

Today’s critical level to watch:

Support: $65.00

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