Gold more consolidation

Gold prices seem losing momentum and settled between $1,900 – $1,950 area. The price will continue consolidating inside the area for now and traders will wait for a breakout and close outside of the range. If the bearish correction continues then traders will expect gold prices to trade down up to daily SMA 200.

Today critical levels to watch:

Support: $1,900, $1,850

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

Silver closed below $25.00

The silver price situation seems under pressure as the price fell below $25.00 again. If the bearish correction continues then silver prices could move down to target the yellow box area again. At the current time, traders will continue to monitor the price movement near $25.00 to get a clue on the next direction.

Today Critical levels to watch:

Support: $23.90, $23.00

Resistance: $25.00, $26.00, $27.50

Crude oil correction toward $106.00?

The bullish movement of crude oil prices is expected to continue for the medium-long term. However, the price is currently undergoing a bearish correction and soon will reach the $106.00 level. Traders will wait for bounce reaction from the level to enter more long positions. If the price close below $106.00 or $100.00 then we might see further weakness to target $90.00 and $85.00.

Today’s critical level to watch:

Support: $106.00, $100.00, $90.00

Resistance: $130.00