Gold hovering near $1,900

The bearish pressure on gold prices continue before the Fed FOMC meeting this week. Traders will continue waiting for the news release and the market reaction after that. If gold prices bounce with strong bullish momentum from the $1,900 handle then traders could add more long positions.

Today critical levels to watch:

Support: $1,900, $1,850

Resistance: $1,953, $2,000, $2,074.69

Silver hanging near $25.00

Silver prices pushed lower and closed below the $25.00 handle. Fortunately, the bearish movement seems losing power, and the price managed to close near $25.00. At the current time, traders will wait for a further reaction from the level. If the price could reverse the bearish pressure and close above $26.00 then the bullish trend is set to continue.

Today Critical levels to watch:

Support: $25.00, $23.90, $23.00

Resistance: $26.00, $27.50

Crude oil more bearish pullback

Crude oil prices traded lower below the $100.00 handle and soon might reach $90.00. The current bearish movement is a corrective movement which means traders will aim to enter long positions near the support level. The nearest support level is $90.00 and it must hold against bearish pressure.

Traders might want to wait until the bearish pressure recedes before entering long positions.

Today’s critical level to watch:

Support: $90.00

Resistance: $100.00, $106.00, $130.00