Gold bearish trend

Gold prices are in a bearish trend after the breakout and close below the $1,780 – $1,800 area. The price could continue the downward movement and target the $1,680 – $1,700 area. Traders will continue to avoid long positions for now until there is a significant bullish reaction from the support area. On the upside, a close above $1,800 might confirm a bullish reversal.

Today critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver on the path toward $18.50

A close below the $20.00 support level is bearish for silver prices and might indicate continuation toward the $18.50 support level. There is no bullish sign yet which means traders better avoid long positions. Under the current situation, it is better to wait until the price hits either $18.50 or the $20.00 level.

Today’s Critical levels to watch:

Support: $18.50

Resistance: $20.00, $21.35, $23.00, $23.90

Crude oil bounced from $95.25

Crude oil prices were under bearish pressure and managed to reach the $95.25 support level last week. There was a bullish reaction from the level and crude oil prices managed to close between the $100.00 – $106.00 area. If the price could continue moving upward and print a higher swing high then there is a chance of bullish continuation.

On the other hand, further weakness and a new lower low will confirm the bearish trend.

Today’s critical level to watch:

Support: $100.00, $95.25, $90.00

Resistance: $106.00, $130.00