Gold bearish pressure below daily SMA 200

After the increase that occurred before the Fed’s announcement. It turned out that the price of gold reversed downwards and failed to close above the $1,953 level. Currently, the price is under bearish pressure below the daily SMA 200 point. There is a possibility that the price will continue its weakness towards the $1,900 level and test it again. The range of movement of gold prices is getting tighter with lower swing high points and higher swing low points.

It can be said that the situation is sideway and traders will wait for further confirmation of the direction.

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 occurred on silver prices today and brought the price down below $23.00. However, the price seems to have managed to recover and is now trading above its opening point. There is still a chance that the price will continue its strengthening towards $23.90. For now, traders will still maintain a long position with a stop level below the previous 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 trades near $90.00

A bearish correction is being experienced by crude oil prices and the price is now near the $90.00 point. There is a chance that the decline could progress towards the $80.00 level and is an opportunity for traders to enter long positions. For now, traders will watch the reaction of the price near the $90.00 mark. It is possible that prices might immediately continue their increase without further bearish correction.

Today’s critical level to watch:

Support: $90.00, $85.00, $80.00

Resistance: $95.00