Gold more bearish close

Gold prices closed lower below the $1,900 handle and there is a bearish continuation today. However, the bearish pressure receded and the price currently trading near the opening level. If the price continues moving lower then it is set to target the $1,850 and daily SMA 200. Traders will monitor the price reaction at the current level. If the price could close above $1,900 at the end of the week then there is a chance of a bullish reversal.

Today critical levels to watch:

Support: $1,900, $1,850

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

Silver testing $23.00

Silver prices are under bearish pressure and print lower low. The price currently testing the $23.00 level or the bottom of the yellow box area. If a bounce happens then traders will expect the price to consolidate inside the yellow box area. On the other hand, if a bearish breakout happens then silver prices are set to target the $21.35 support level.

Today’s Critical levels to watch:

Support: $23.00, $21.35

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

Crude oil range between $95.25 – $106.00

The bearish pressure on crude oil prices receded and the price bounced from the $95.25 support level. At the current time, the price is moving upward and set to target the $106.00 level. Traders will expect the price to consolidate between $95.25 – $106.00 for now and wait for a breakout from the area to confirm the next direction.

Today’s critical level to watch:

Support: $95.25, $90.00

Resistance: $100.00, $106.00, $130.00