Gold bearish continuation

The movement range of $1,953 – $2,000 appears to be broken today and gold prices will continue their decline. Gold price will now target the daily SMA 200 point where traders will wait for a bullish reaction. If gold prices can bounce up sharply and close above $1,953 then there is a chance for prices to move bullishly. If the increase can continue and the price closes above $2,000 then the bullish trend may continue.

Today’s critical levels to watch:

Support: $1,950, $1,900, $1,850, $1,800

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

Silver bearish pressure

Silver prices appear to be experiencing bearish pressure today and will test the horizontal support point. Consolidation is likely to last as long as the pair holds and does not form a lower swing low point. If the pair continues its weakness then the $21.35 point could become a bearish target that needs attention.

Today’s Critical levels to watch:

Support: $21.35, $20.00

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil consolidation near $77.13

As previously written, the price of crude oil has closed below $77.13 but is currently continuing its movement near it. Consolidation is underway and traders will wait for further reaction. If the price can bounce up sharply then the bullish trend can continue. If the decline continues then the $70.00 point will be the downside target.

Today’s critical level to watch:

Support: $70.00

Resistance: $77.13, $80.00, $85.00, $90.00