Gold pause after drop

The two day’s bearish close in gold prices brought it lower from $3,499 top to $3,259.61 or nearly 7% from the top. The price might continue the bearish movement toward the green box area, where traders will look for a chance to add long positions. As long as the tariff war issue unresolved, gold prices could continue the bullish trend.

Today’s critical levels to watch:

Support: $3,250$3,200, $3,150

Resistance: $3,350, $3,400, $3,500

Silver resume bullish trend?

A significant bullish close happened in silver prices yesterday. The price closed above $33.00 level and might immediately resume the bullish movement to target $35.25. At the current time, the $33.00 level will act as support level when a bearish correction happens. A close below the level and new lower low might cancel the bullish outlook.

Today’s Critical levels to watch:

Support: $33.00, $32.50, $31.50, $30.00, $29.00

Resistance: $35.25

Crude oil looking to continue bearish move

The rising wedge pattern on crude oil prices has been broken to the downside, and now the price is expected to continue the bearish trend. Crude oil prices slightly higher today, retesting the broken level. Traders could use it as a chance to enter short positions with stop above $65.00. On the lower side, we will target $55.80, $52.40.

Today’s critical level to watch:

Support: $60.00, $52.4

Resistance: $65.00, $67.20, $70.00, $77.13