Gold bounce from green box area

The decline in gold prices resumed and the price tested the green box area. A bullish bounce occurred today and the price is above its opening point. If the price can continue its strengthening and rise above the nearest high then there is a chance of continuing the bullish movement towards the record high. For now, traders with a long position from the green box area will maintain that position. However, if there is a close below the green box area then there is a chance of a bearish reversal.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver trades near $31.50

Silver price has managed to surpass the $31.50 mark and is now seeing a bearish reaction. Consolidation is likely to take place near the $31.50 mark and traders will wait for further developments. If a bearish correction occurs, traders will wait near support points for the opportunity to enter a long position.

Today’s Critical levels to watch:

Support: $30.00, $26.00, $25.00, $23.90, $23.00

Resistance: $31.50

Crude oil moving toward $77.13

After reaching $80.00, the price of crude oil experienced a bearish rejection reaction and is now falling with quite a strong bearish momentum. This weakness has the opportunity to bring the price down to $77.13 to test it again. Consolidation between $77.13 – $80.00 is still in progress and traders will wait for further developments for now.

Today’s critical level to watch:

Support: $77.13

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