Gold continues the bearish movement

Gold prices are back under bearish pressure after the release of U.S CPI data. The bearish movement might target the $1,580 – $1,600 area and traders will wait on the sideline for now. A new lower low on the chart will confirm a continuation of the bearish trend. On the other hand, a close above $1,700 will open a chance of a bullish reversal.

Today’s critical levels to watch:

Support: $1,600, $1,585

Resistance: $1,680, $1,700, $1,780, $1,800

Silver testing $18.50

No bullish reaction in silver prices yet as the price continues the bearish movement today. Silver prices will test the $18.50 support level and wait for reactions. If the pair continues lower and print a new lower low then traders will prepare for the continuation of the bearish trend. At the current time, it is better to wait for a further reaction from the $18.50 support level.

Today’s Critical levels to watch:

Support: $18.50, $17.73

Resistance: $20.00, $21.35

Crude oil set to test $85.00

The bearish pressure on crude oil prices brought it down to a close below the $90.00 handle. At the current time, there is no bearish continuation, and the price stick near the $90.00 handle. Traders will monitor the price reactions near the level for now. If the price could climb and close above $95.25 then traders will expect a bullish continuation.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25