Gold under bearish pressure

The price of gold turn lower in today’s trading session and soon will reach the green box area to test it. This might be a bearish correction where traders could add more long positions at a lower level. At the current time, traders will wai until the pair stabilizes, and form major bullish reactions near the support level before entering long positions.

Today’s critical levels to watch:

Support: $2,500, $2,400, $2,143

Resistance: $2,530, $2,611

Silver testing $29.00

Silver prices fall with moderate bearish pressure and reach the $29.00 support level. The pair might attempt to push below the support level to resume the bearish movement toward $26.00. We think a consolidation might happen near the $29.00 until the price stabilizes. Traders will observe the price reactions near the level for now. When there are major bullish reactions, traders could enter long positions.

Today’s Critical levels to watch:

Support: $29.00, $26.00, $25.00, $23.90, $23.00

Resistance: $30.00, $31.50, $35.25

Crude oil rejection from $77.13

Crude oil prices were rejected and printed a bearish close yesterday. There is a bearish follow-through in today’s trading session but the price looks making a bullish recovery. If the bullish recovery continues and the price closes near the opening level then there is a chance of upward movement to retest the $77.13 resistance level.

Today’s critical level to watch:

Support: $70.00

Resistance: $77.13, $80.00, $83.85, $85.00, $90.00