Gold continue sideway

Currently, gold prices appear to be moving flat before the interest rate announcement by the Fed. If the price moves down after the announcement then traders will wait at support points for the opportunity to enter a long position. As long as prices continue to form higher swing high and swing low points and the issue of inflation is still ongoing, prices can continue to strengthen.

Today’s critical levels to watch:

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

Resistance:

Silver stick near $25.00 – $26.00

An increase in the price of silver is something that has a high chance of happening. The upside is currently limited by the $25.00 – $26.00 area and as per previous analysis, a close above this area would confirm the continuation of the long-term bullish trend. If the price bounces down then traders can use the $23.00 – $23.90 area as a place to enter long positions when a bullish reaction occurs.

Today’s Critical levels to watch:

Support: $23.90, $23.00, $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil bearish correction

After rising consecutively above the $80.00 point, crude oil prices finally closed bearish yesterday and there was continued weakness in today’s trading. There is a chance this weakness could reach the $80.00 mark to test it. Traders can wait near the $80.00 point or the trendline for a bullish reaction. When a bullish reaction occurs, traders can add to long positions.

Today’s critical level to watch:

Support: $80.00, $77.13, $70.00

Resistance: $85.00, $90.00