Gold testing $1,900

Gold prices are under bearish pressure as the price closed near $1,900 yesterday. At the current time, the price continues to maintain the level near the $1,900 handle. However, if the price continues its bearish movement then gold prices will target $1,850 and the daily SMA 200. No clue yet for long positions, traders will wait for a major bullish reaction near the support level before entering long positions.

Today critical levels to watch:

Support: $1,900, $1,850

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

Silver continue under bearish pressure

There is no stop to the bearish pressure on silver prices yet. The price fell below the $23.90 level and might extend the bearish movement toward $23.00. There is a bullish attempt today but silver prices get rejected from the $23.90 level. Without a major bullish reaction, it is better to stay sideline or wait until the price reaches a stronger support level.

Today’s Critical levels to watch:

Support: $23.00

Resistance: $23.90, $25.00, $26.00, $27.50

Crude oil return above $100.00

Crude oil prices experienced more bearish pressure and tested the $95.25 support level yesterday. There is a bounce from the level and currently the price trading above $100.00. It seems crude oil prices range span between $95.25 – $106.00 at the current time. Traders will wait for a breakout from the range to get confirmation on the next direction.

Today’s critical level to watch:

Support: $95.25, $90.00

Resistance: $100.00, $106.00, $130.00