Gold bearish pressure below SMA 200

Gold price pushed below the daily SMA 200 and is now approaching the $1,900 mark. The movement of gold prices is still under bearish pressure ahead of today’s CPI announcement. There is no confirmation that the direction of movement will reverse from bearish to bullish. When the price can bounce up and then make a close above the daily SMA 200 then it is an initial confirmation of the bullish reversal.

Today’s critical levels to watch:

Support: $1,900, $1,850

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

Silver trading near $23.00

Silver prices are still under bearish pressure but to a limited extent. The price movement is seen still hovering near the $23.00 point. There is a possibility that the price will stick near the $23.00 mark ahead of the Fed’s interest rate announcement next week. In the long term, the trend of silver prices is still bullish and traders will use the current bearish movement to add to long positions.

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil bullish continuation

Crude oil prices continue to increase in line with fundamental conditions that support the current strengthening. There is no reason for traders to enter short positions. When the price makes a bearish movement to the nearest support point, traders can use this opportunity to enter a long position.

Today’s critical level to watch:

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

Resistance: $85.00