Gold bull is in major trouble as it could not lift the price above $1,280 and made two consecutive closes below the resistance. The third close below $1,280 and move below $1,270 is the dead end for the bull which will bring the price down to daily SMA 200. Traders are waiting for ECB interest-rate decision today which could drive volatility in the market. Today critical level to watch: Support: $1,258, $1,250 Resistance: $1,280, $1,300, $1,313.22, $1337, $1,390 Silver is trapped between $16.80 – $17.00 and the triangle before ECB press conference. The precious metal could move either way today. However, traders could look at the chart, the high is getting lower while the low stay the same around $16.80. It is the situation where the bear is in control and most of the time the price break lower. Today critical level to watch: Support: $16.80, $16.50, $16.00 Resistance: $17.00, $17.20, $17.50, $17.73 Crude oil is in neutral sentiment despite the selling after U.S inventory data in the previous day. The price has not moved much from $52.40 resistance, and traders could continue to watch the market reaction. Bullish scenario is a break above $52.40 followed by a correction to re-test the broken resistance. Another scenario is sharp break leaving $52.40 without any pause. On the other hand, a bearish scenario will include a test of trendline before a valid trend change. Today critical level to watch: Support: $51.20, $51.00, $50.00 Resistance: $52.40, $54.50

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Gold price is still within the $1,953 – $2,000 area and is waiting for bullish momentum to continue its upward movement. In the long term, the price trend is bullish due to developments in the global situation. Traders should only take advantage of any decline in price as an opportunity to enter a long position. Today’s critical levels to watch: Support: $1,900, $1,850, $1,800 Resistance: $1,950, $2,000, $2,069, $2,074 Silver prices pushed down below $23.00 at the start of this week and have the opportunity to continue their bearish movement towards $21.35. However, the price looks to maintain its position not far from the $23.00 mark. If the price can rise again above $23.00 then the bullish movement can continue towards $23.90. Today’s Critical levels to watch: Support: $23.00, $21.35, $20.00 Resistance: $23.90, $25.00, $26.00 Crude oil prices continued their decline after a bearish close yesterday. However, the downward movement has reversed and the price is now trading above the opening point. If the price can continue its strengthening and close above $85.00 then the bullish trend can resume. Conversely, if the price continues to weaken then there is a chance of a decline to $77.13. Today’s critical level to watch: Support: $85.00, $80.00 Resistance: $90.00, $95.00

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Gold prices printed a major bullish close last week and there was a bullish continuation yesterday. However, the upward movement lost bullish pressure and closed the day on the bearish side. At the current time, the price is under bearish pressure but maintains the movement near yesterday’s low. Gold prices might trade sideway near the current level while waiting for further development. Today’s critical levels to watch: Support: $1,600, $1,585 Resistance: $1,680, $1,700, $1,780, $1,800 Silver prices reverse the bullish pressure and made a bearish close yesterday. The price continues the bearish movement today and might target the $18.50 support level. If the price could reverse the bearish pressure and start moving upward again then traders will expect movement toward $20.00 and $21.35. Today’s Critical levels to watch: Support: $18.50, $17.73 Resistance: $20.00, $21.35 Crude oil prices pushed lower below the $85.00 handle but managed to close the day near the level. Today, the price is trading under bearish pressure similar to the previous day’s situation. Will the price return near and close near $85.00 again to extend the sideway movement? Traders might want to continuously monitor the price reactions from $85.00 for now. Today’s critical level to watch: Support: $85.00, $80.00, $77.13 Resistance: $90.00, $95.25

SOURCE : https://tradertalks-net.translate.goog/s/26003?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

Last week, gold prices climbed past the $1,800 resistance level and the daily SMA 200. It seems the bullish trend was confirmed. However, the price turn lower and closed below both resistance levels at the end of the week. At the current time, the price is moving upward and testing the $1,800. As long as there is no breakout and close above $1,800 then the trend will continue sideways between $1,780 – $1,800. Today critical levels to watch: Support: $1,780, $1,700, $1,680 Resistance: $1,800, $1,850 Silver prices have broken above the yellow box area and are now expected to continue its bullish movement toward the $25.00 – $26.00 area. Under the current situation, traders who have long positions will continue to hold the position and wait for reactions from the $25.00 – $26.00 area. A close above $26.00 will confirm a long-term bullish continuation. Today Critical levels to watch: Support: $23.00, $21.35, $20.00 Resistance: $23.90, $25.00, $26.00 As mentioned before, the close above $82.72 is vital for crude oil bullish trend. The price now continue to maintain the position above the level and continue the bullish movement. On the upside, $85.00 is the nearest resistance and $90.00 is next. Traders could only hold long positions and wait for a correction to add more long positions for now. Today critical level to watch: Support: $82.72, $77.13 Resistance: $85.00, $90.00

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Gold managed to climb and close above $1,500 handle yesterday. The price looks close above the bearish channel too. However, there is no bullish continuation yet today and it seems the price might close near both resistance levels. Traders will wait for a further clue on gold next direction. Without major bullish close above both resistances level then gold might return inside the bearish channel range again. Today critical levels to watch: Support: $1,500, $1,480, $1,450, $1,430 Resistance: $1,550 After prolonged consolidation near $17.50 – $17.73, finally, silver start moving higher above the resistance area. The price might continue upward and reach $18.50. At the current time, traders will wait for pullback to enter long positions. Today Critical levels to watch: Support: $17.73, $17.50, $17.00 Resistance: $18.00, $18.50 The price of crude oil attempted to move further higher yesterday. But at the end of the day, the price settle near the Wednesday high which provide a neutral outlook. No bullish continuation yet today and we might see the price settle near $55.80. Traders could look for long positions near $54.50 and $55.80. Today critical level to watch: Support: $55.80, $54.50, $52.40 Resistance: $57.60, $59.50, $60.00

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Gold floor continues to rise day by day even though there is no breakout yet above resistance. The precious metal currently dealing with $1,230 and $1,240 resistances. In the previous day, the price closed above $1,230 which pressuring the bear. If the bull traders could continue securing higher close then we will see a breakout above $1,240 soon. Today critical level to watch: Support: $1,220, $1,210, $1,200 Resistance: $1,234, $1,240 Silver paused near the top of the triangle shown on the daily chart but stay bullish. The precious metal might be waiting for momentum to make breakout above the triangle toward $15.00 resistance. Traders could look for long position when pullback happens. A short position is not suggested in the current bullish environment. Today critical level to watch: Support: $14.40, $14.00 Resistance: $15.00, $15.60 Heavy losses incurred in crude oil brought the price down to close at $66.09. It is the second day after the sell-off and crude oil upward attempt could not move above $67.09. It might trade between $66.00 – $67.00 until next momentum movement happen. The fundamental situation favor bearish scenario to play out, technically a breakout below $66.00 will trigger further selling. Today critical level to watch: Support: $66.00, $65.78, $65.00, $64.44 Resistance:  $67.00, $70.00, $71.39, $74.04

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The price of gold closed lower below $1,280 on Tuesday and risked further downside. There is no valid breakout yet below the trendline, and as long as the price could return above $1,280 by the end of the week, it is the bull victory. Traders could continue to observe price action at the support. It is possible next day ECB interest-rate decision will produce volatility to move the precious metal away from current level. Today critical level to watch: Support: $1,258, $1,250 Resistance: $1,280, $1,300, $1,313.22, $1337, $1,390 The situation on the silver daily chart is similar to the situation in Gold. The price initially bounces from the support level, but it driven back to $16.80 and currently testing it. There is no break or bounce confirmation yet, and traders could adopt wait&see stance until next momentum move happen. Today critical level to watch: Support: $16.80, $16.50, $16.00 Resistance: $17.00, $17.20, $17.50, $17.73 EIA released U.S crude oil inventories which recorded surplus of 0.9 million barrels compared to a deficit of 2.6 million barrels expectation. The price of crude oil unchanged after the news and continue stick near $52.40 resistance. Will the bear push the price down today? Alternatively, will the bull move the price higher and break above $52.40? Today critical level to watch: Support: $51.20, $51.00, $50.00 Resistance: $52.40, $54.50

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Gold price already escaped the yellow consolidation box, but it unexpectedly shies to move to $1,280 target of the breakout. Lack of interest and also strength in U.S dollar put gold in the backseat, waiting for an opportunity to stage another rally. Gold bear will try to push the price inside yellow consolidation box again, while the bull will try to bring the price above $1,270 first to form a stronger base before touching $1,280 – $1,300 area. Today critical level to watch: Support: $1,260, $1,250, $1,220, $1,200 Resistance: $1,270, $1300, $1,280, $1330, $1350 Silver Bull gained the upper hand against the bear in triangle tug-o-war. The price bounced higher from the trendline and capped near $17.80. On the upside, we have solid resistance at $18.50, and the price should move between it and the bullish trendline. Today critical level to watch: Support: $17.50, $17.00, $16.50 Resistance: $17.80, $18.50, $19.00 Crude oil price boosted by Russian Energy Minister Alexander Novak which said Russia urge discussion on Joined oil production cut by OPEC. Although it is a positive sign, Iraq has yet to agree on the production cut plan which put the oil rally in uncertainties. The price holds gain above broken triangle, all selling pressure absorbed perfectly but no higher high formed. The bull needs a decisive close above $51 to reverse selling pressure, while the bear wants the price below $50 to incite more selling. Today critical level to watch: Support: $50.40, $50.00, $48.50, $48.00, $47.00 Resistance: $51.00, $51.14, $51.60, $52.00

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