Gold has no bearish continuation

Gold prices got rejected from the $1,780 – $1,800 area. However, there is no bearish continuation after the rejection. The price continues to stick near the area and will attempt to break out above it. Traders will monitor the price reactions from the area. If there are major bearish reactions then traders could consider entering short positions.

Today’s critical levels to watch:

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

Resistance: $1,780, $1,800

Silver continues lower to $21.35?

Silver prices got rejected from the $23.00 resistance level but no bearish continuation yet. The price might hang near the current level and wait for further development. If the price continues moving lower then it will target the $21.35 support level. At the current time, traders could enter short positions with stops above the previous swing high.

Today’s Critical levels to watch:

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

Resistance: $23.00, $23.90

Crude oil breakout below $77.13

The price made a bearish breakout and closed below the $77.13 support level. Crude oil prices are in a bearish trend and might extend the bearish movement toward $70.00. Traders will avoid long positions until the price either reaches $70.00 or climb above $77.13 again. Without a new higher high and higher low, a long position is a high-risk option.

Today’s critical level to watch:

Support: $77.13, $70.00

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