Gold continues below $1,850

The decline in gold prices has not stopped and is quite consistent. The decline has occurred consecutively for 5 days and today is the sixth day. There are no bullish indications on gold prices so there is no strong confirmation to enter a long position. However, because the decline has occurred in succession, a bullish reaction could occur soon. If the price reverses and closes above $1,850 then the direction of movement could be bullish in the short term.

Today’s critical levels to watch:

Support: $1,850, $1,800

Resistance: $1,900, $1,950, $2,000, $2,069, $2,074

Silver target $21.35

Silver prices appear to continue weakening after a bearish reaction at the $23.00 mark. The price soon reached the $21.35 point where traders will watch for further reaction. There is a possibility that a strong bullish reaction occurs at that point and traders can enter long positions.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil consolidates between $90.00 – $95.00

The price of crude oil rose and reached $95.00 before experiencing a bearish reaction from that point. A decline occurred and the price almost reached the $90.00 point. If weakness continues below the $90.00 point, the downside target is $85.00 where a swing high point is formed previously. The trend is still bullish so traders will take advantage of the decline that occurs for long position opportunities.

Today’s critical level to watch:

Support: $90.00, $85.00, $80.00

Resistance: $95.00