Gold continues moving lower

Gold prices experience further weakness after the rejection from the $2,000 handle. The price closed lower near the $1,950 and there is bearish follow-through today. Despite the bearish situation, the price manages to stick near the $1,950 level. At the current time, traders will wait for a further reaction from the support level. If there is a bullish bounce reaction then traders could add more long positions.

Today critical levels to watch:

Support: $1,953, $1,900, $1,850

Resistance: $2,000, $2,074.69

Silver testing the $25.00 handle

Silver prices got rejected from the $26.00 handle and formed a bearish close near $25.00 yesterday. The bearish pressure has strong momentum and currently testing the $25.00 support level. If the price could continue to maintain the position above $25.00 then there is a chance of bounce and continuation to retest $26.00.

Today’s Critical levels to watch:

Support: $25.00, $23.90, $23.00

Resistance: $26.00, $27.50

Crude oil rejection from $106.00

Crude oil prices got rejected from the $106.00 handle and formed a bearish close yesterday. We might see a bearish continuation to target $95.00. However, traders might want to stick with long positions as the trend is bullish. If the price reverses the current bearish pressure and closes above $106.00 then we will see a bullish continuation to target $106.00.

Today’s critical level to watch:

Support: $100.00, $95.25, $90.00

Resistance: $106.00, $130.00