Gold consolidating near $1,953

The close below $1,953 was confirmation of continued weakness towards $1,900. The price of gold has the opportunity to continue its decline towards the $1,900 and traders will now observe the development of price movements. If the price reaches $1,900 and gives a bullish reaction then traders can use the opportunity to enter a long position. Conversely, if it turns out that a reversal has occurred and prices close above $1,953 then gold prices can continue the upward movement.

Today’s critical levels to watch:

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

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

Silver return above $23.00

Silver prices managed to turn things around by closing above $23.00 at the end of last week. The silver price has an opportunity to continue to be bullish and continue its long-term trend. However, if the price drops sharply again and closes below $23.00 then the bearish trend could still continue towards $21.35.

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil waiting for confirmation

Crude oil prices are moving between $ 70.00 – $ 77.13 and are still waiting for the next direction confirmation. A close below $70.00 could confirm a continuation of the bearish run. Conversely, a close above $77.13 could confirm a continuation of the bullish move.

Today’s critical level to watch:

Support: $70.00, $65.00

Resistance: $77.13, $80.00, $85.00