Gold fall below daily SMA 200

A bearish movement was carried out by gold prices before the release of CPI data and also the Fed’s interest rates. Even though it is bearish, this happened before 2 important news so it was a preparation before the announcement. Traders will wait for the reaction after the announcement. If the gold price moves sharply above the daily SMA 200 and then forms a higher swing high point, the direction of movement will be bullish in the medium to long term.

Today’s critical levels to watch:

Support: $1,900, $1,850

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

Silver stick near $23.00

Bearish pressure on silver prices is still ongoing, but so far the price is holding well near the $23.00 mark. Consolidation seems likely to take place near the $23.00 mark for now. Traders will wait for further reaction from the $23.00 point. If the decline continues, the price will target the previous swing low point. The key to the next movement will be determined by the formation of a higher swing high point or a lower swing low point.

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil unstoppable

The situation of crude oil prices has become very bullish at the moment with prices continuing to push up. There is no strong reason yet for a bearish reversal. Supplies are dwindling in the U.S. and also the production cuts carried out by OPEC are what pushed the price of crude oil up. Traders can only wait for a bearish correction to have the opportunity to enter a long position.

Today’s critical level to watch:

Support: $80.00, $77.13, $70.00, $65.00

Resistance: $85.00