Gold bearish pin bar reaction

Gold prices formed a bearish pin bar reaction from the $1,780 – $1,800 area. It might indicate a bearish reversal and continuation to target a new low. However, there is no bearish continuation yet as the price slightly trading upward today. It seems gold prices will make another retest in the $1,780 – $1,800 area and traders will monitor closely the price reaction for now.

Today’s critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver closed near $20.00

A breakout and retest play is in progress now. Silver prices continue trading near the $20.00 handle and will wait for further reactions. We think the price could continue the bullish movement and target the $21.35 resistance level next. However, if the price fall with strong bearish pressure then traders will prepare for a bearish continuation.

Today’s Critical levels to watch:

Support: $20.00, $18.50, $16.00

Resistance: $21.35, $23.00, $23.90

Crude oil maintains close below $95.25

The bearish close below the $95.25 support level is a significant event for crude oil prices. The trend has turned bearish once again and the price might continue lower to target the $90.00 support level next. On the upside, crude oil prices need to close above $106.00 to reverse the current bearish outlook.

Today’s critical level to watch:

Support: $95.25, $90.00

Resistance: $100.00, $106.00, $130.00