Gold threat of bearish continuation

The bearish rejection from the $2,000 handle seems brought gold prices down toward the $1,900 handle. No-touch yet on the support level but traders will observe closely the price reaction near it. If a major bearish breakout happens then traders will prepare for a bearish continuation toward the $1,850 and daily SMA 200.

Today critical levels to watch:

Support: $1,850

Resistance: $1,900, $1,953, $2,000, $2,074.69

Silver entering the yellow box area

Silver prices resume the weakness below the $25.00 handle and currently fall inside the yellow box area. The bearish movement has strong momentum and might continue to push the price further lower. Traders might want to wait for a bullish reaction before deciding on entering long positions.

If a bullish bounce happens then the price need to close above $26.00 to cancel any bearish scenario.

Today’s Critical levels to watch:

Support: $23.90, $23.00

Resistance: $25.00, $26.00, $27.50

Crude oil moving down to target $95.25?

Crude oil prices are moving lower after the rejection from the $106.00 level. The price might continue lower and retest the $106.00 handle. Traders will monitor the price reaction from the support level. As long as there is no breakout and a close below the level, there is a chance of a bullish reversal.

Today’s critical level to watch:

Support: $95.25, $90.00

Resistance: $100.00, $106.00, $130.00