Gold bounce from $1,953

The bullish reaction occurred in the gold price which bounced up in last week’s trading. Even though there is a bounce, the range of movement of the gold price span between $ 1,953 – $ 2,000, and traders will continue to wait for further developments. As long as there is no close outside this range, the price will continue to consolidate. In the long term, the price is expected to continue its bullish movement. However, if the decline continues then the next support level is $1,900.

Today’s critical levels to watch:

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

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

Silver more bearish pressure toward $23.00?

The silver price has reached the $23.00 – $23.90 area and is now consolidating within this area. If the price continues moves down and reaches $23.00 then it is an opportunity for the trader to enter a long position after the bounce reaction. In the long term, the silver price is expected to continue its bullish movement above the $25.00 – $26.00 area.

Today’s Critical levels to watch:

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

Resistance: $25.00, $26.00

Crude oil losing bullish pressure

Consolidation in crude oil prices is still ongoing near the $70.00 level. There is no confirmation yet on where the price will move next. If the price can bounce up then the $77.13 level is the next bullish target. Conversely, if the decline continues, the price of crude oil will aim for a lower swing low.

Today’s critical level to watch:

Support: $70.00, $65.00

Resistance: $77.13, $80.00, $85.00