On Wednesday (December 6), as the US ADP data showed that the employment market further slowed down, the US treasury bond bonds gradually stabilized, and gold and silver both hovered in key ranges. As concerns about demand intensified, crude oil prices plummeted to their June lows.
Gold price test at $2000 level
The decline in gold prices can be said to be a sustained profit taking reaction. This downward trend is testing the key level around $2000 and will await further response. When there is a strong bullish rebound, gold prices will continue their bullish trend.
Key levels worth paying attention to today:
Support level: $2000, $1950, $1900, $1850, $1800
Resistance level: $2069, $2074
Silver test in the range of $23.00 to $23.90
The silver price closed in a bearish pattern, reaching $23.90. Currently, the price will further test the range of $23.00 to $23.90, and traders will wait for further progress. When there is a rebound reaction in key areas, traders can establish long positions. As long as prices can continue to form higher oscillation highs and higher oscillation lows, the direction of the trend is still bullish.
Key levels worth paying attention to today:
Support level: $23.90, $23.00, $21.35, $20.00
Resistance level: $25.00, $26.00
Crude oil dropped to $70.00
Based on the current trend, crude oil prices are quite pessimistic, currently reaching $70.00. It is expected that the price will consolidate around $70.00 for a period of time. When there is a rebound reaction, traders can consider establishing long positions.
Key levels worth paying attention to today:
Support level: $70.00
Resistance levels: $77.13, $80.00, $85.00, $90.00
