Gold no change in the direction

Gold prices have reached the $2,530 – $255,0 area or the green box area. It is time to wait for bullish reactions for a chance to enter long positions. If the price continues the bearish movement then the daily SMA 200 is the major support to watch. We think the price will continue under bearish pressure for now as the U.S. dollar index continues gaining ground globally.

Today’s critical levels to watch:

Support: $2,600, $2,550, $2,530

Resistance: $2,685, $2,750, $2,800, $2,841

Silver fall below $30.00

The bear pushed silver prices lower below $30.00 today. It might extend the bearish movement toward the $29.00 level. We will wait for further confirmation for now. Will the price break below $29.00 then print a new lower swing low to turn the trend bearish? Alternatively, will it climb and close above $31.50 to resume the bullish trend?

Today’s Critical levels to watch:

Support: $30.00, $29.00

Resistance: $31.50, $32.50, $35.25

Crude oil hovering above $67.20

Crude oil prices bounced from the $67.20 support level but no bullish continuation today. The price might trade sideways between $67.20 – $70.00. On the upside, the price needs to climb above $70.00 and print a new higher swing high to reverse the current bearish trend. On the lower side, a new lower swing low will confirm the continuation of a bearish trend.

Today’s critical level to watch:

Support: $67.20, $65.00

Resistance: $70.00, $77.13, $80.00, $83.85