Gold closed below $1,900

The movement of the gold price seems to be bearish with a closing below $1.953. However, the price seems to show a bullish reaction today and try to climb back above $ 1,953. If by the end of the week there is no significant drop then it is likely that the price of gold will stick near the $1,953 point until the U.S. debt-ceiling decision. Even if the price continues to move lower, traders can wait near the $1,900 level for long positions.

Today’s critical levels to watch:

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

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

Silver closed below $23.00

A bearish close below the $23.00 level indicates a continuation of the bearish trend. However, silver prices immediately snapped back above the $23.00 mark today with strong bullish momentum. If the price continues its upward movement, it can be said that a bottom has been formed and the price can return to its bullish trend.

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil more consolidation

The increase in oil prices towards $77.13 was still hindered by the decline that occurred yesterday. The movement of crude oil prices is likely to be sideways, waiting for further developments. As noted in previous analyses, price needs a close above $77.13 and a higher swing high to confirm a continuation of the bullish trend. Conversely, further declines and new lower swing lows would confirm the continuation of the bearish trend.

Today’s critical level to watch:

Support: $70.00, $65.00

Resistance: $77.13, $80.00, $85.00