Gold supported by green box area

A bounce from the green box area occurred in gold prices and there is a possibility that prices will continue their bullish trend. However, there is no upward movement with strong bullish momentum so the price will likely move horizontally not far from the green box area. If the price is pushed down below the green box area then the trend direction of the gold price will change to bearish in the medium to long term.

Today’s critical levels to watch:

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

Resistance: $2,400

Silver more consolidation near $31.50

The trend of silver prices remains bullish and the price is currently trading near $31.50. Consolidation is likely to take place near this point and traders will wait for further reaction. If there is a deeper decline then traders will wait near the previous low or $29.00 for a bullish reaction. When a strong bullish reaction occurs, traders can enter long positions.

Today’s Critical levels to watch:

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

Resistance: $31.50

Crude oil set to test $77.13

After bouncing down from the $80.00 level, the price of crude oil continues to weaken and will target the $77.13 level. Consolidation of the pair will continue between $77.13 – $80.00 and traders can continue to use this area for range trading. Will crude oil prices fall below $77.13 and then form a lower swing low to continue the bearish trend? Or will the price reverse up and close above $80.00 to continue the bullish trend?

Today’s critical level to watch:

Support: $77.13

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