Gold hovering above the green box area

The bounce in the price of gold from the green box area succeeded in bringing the price up. However, the increase did not occur with strong bullish momentum. The price movement is likely to be sideway and there is a chance of testing the green box area again. If the decline continues and there is a close below the green box area then the trend may change to bearish. However, traders will wait for a decline to the support point to have the opportunity to add to long positions.

Today’s critical levels to watch:

Support: $2,143, $2,074, $2,069, $2,000

Resistance: $2,400

Silver extends bullish movement

The bullish movement above the $25.00 – $26.00 area is still ongoing with the $30.00 and $31.50 points as upside targets. In general, silver prices are continuing to strengthen and traders who have long positions from the support point will maintain them. As long as the price forms a higher swing high and swing low point, the bullish trend will continue.

Today’s Critical levels to watch:

Support: $26.00, $25.00, $23.90, $23.00

Resistance: $30.00, $31.50

Crude oil ranging movement

Crude oil prices did not move much within the $77.13 – $80.00 area. The price is moving flat and traders will continue to wait for further reaction. Closing outside the area will confirm the direction of the next movement in crude oil prices. For now, traders can take advantage of sideway movements to carry out range trading.

Today’s critical level to watch:

Support: $77.13

Resistance: $80.00, $83.85, $85.00, $90.00