Gold bearish movement from $1,780 – $1,800

The upward movement of gold prices halted at the $1,780 – $1,800 area also the daily SMA 200. It seems the price experience bearish rejection and might start a new bearish leg. If the price continues moving lower then traders will expect a bearish movement toward the $1,680 – $1,700 area.

Today’s critical levels to watch:

Support: $1,700, $1,680, $1,600, $1,585

Resistance: $1,780, $1,800

Silver major bearish reaction from $23.00

Silver prices come under bearish pressure today after the failed bullish continuation. It seems the bearish movement has strong momentum and might continue toward the $21.25 level. Traders will stay cautious about the current situation, if the price could reach the level and bounce from it then there is a chance of bullish continuation.

Today’s Critical levels to watch:

Support: $21.35, $20.00, $18.50, $17.73

Resistance: $23.00, $23.90

Crude oil has more sideway movement

Crude oil prices maintain a position above the $77.13 handle. However, there is no bullish continuation as the price looks trading sideways. We might see the price continue the consolidation near the current level. If the price makes a bearish continuation toward the $77.13 level then traders could enter long positions when there are bullish reactions.

Today’s critical level to watch:

Support: $77.13, $70.00

Resistance: $80.00, $85.00, $90.00, $95.25