Gold rejection from $1,950

Gold prices attempted to move higher yesterday but could not close above $1,950 resistance level. The price is currently rejected from the $1,950 resistance level and starts moving lower. However, there is no lower low printed on the chart yet.

At the current time, traders will anticipate deeper bearish correction toward $1,780 – $1,800 area.

Today critical levels to watch:

Support: $1,900, $1,800

Resistance: $1,950, $2,000, $2,050

Silver consolidating above $25.00 – $26.00

Silver made a bullish close yesterday but inside the Wednesday range. No confirmation yet where the price will move next. We think the price will continue to maintain its bullish pressure as long as the price stay above $25.00 – $26.00 area.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35

Resistance: $30.00

Crude oil failed bearish attempt

There was a bearish attempt to bring the price lower yesterday. However, the bearish pressure loses momentum and crude oil closed the day near its opening level. No conclusion yet on the crude oil next direction. The price is expected to trade sideway near the current level.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00