Gold trading near $2,000

Gold prices return below the $2,000 handle and currently trading near it before the Fed FOMC meeting. The Fed is expected to raise interest-rate by 25 bps and stop its interest-rate hike program. However, if the Fed decides to be stubborn on its rate-hike program then the global market might experience bearish pressure. Nevertheless, gold prices will continue the bullish trend this year and each bearish correction is chance for traders to enter more long positions.

Today’s critical levels to watch:

Support: $1,950, $1,900, $1,850

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

Silver return above $25.00

Silver prices undergo bearish pressure last week and closed below $25.00. Despite the situation, the price could return above the $25.00 handle today and might extend the upward movement to retest $26.00. Traders will stay cautious ahead of the Fed FOMC meeting this week. Each bearish correction is a chance for traders to enter more long positions at a lower level.

Today’s Critical levels to watch:

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

Resistance: $25.00, $26.00

Crude oil trading near $77.13

Crude oil printed a bearish close below the $77.13 handle and might extend the movement to target $70.00 and lower. However, at the end of the week, crude oil prices managed to close the week near the $77.13 handle. If the price could continue moving upward and close above $77.13 then we might see a bullish continuation. However, if the price extends the bearish movement after the Fed FOMC meeting then the bearish trend could continue.

Today’s critical level to watch:

Support: $77.13, $70.00, $65.00

Resistance: $80.00, $85.00, $90.00, $95.25