Gold bearish correction toward $1,850

The bullish pressure on gold prices extended yesterday as the price made another bullish close above $1,850. However, the price seems under pressure today and has fallen below the previous day’s low. Gold prices might continue moving lower and test the $1,850 breakout level. If the bull could maintain the bullish pressure then we might see gold prices bounce and continue its bullish trend.

Today critical levels to watch:

Support: $1,850, $1,800, $1,780

Resistance: $1,900, $2,000

Silver tested the top of the triangle

Silver prices tested the top of the triangle and closed near its opening level yesterday. The price starts moving lower from the top of the triangle and might start a bearish correction toward the bottom of the triangle. No breakout yet from the pattern which means silver prices will continue its consolidation.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil to continue bullish movement above $45.00?

Crude oil prices consolidation near the $45.00 continue but the bull seems to gain edge today. There is a bullish movement above the previous day high. If the bull could continue to maintain the bullish pressure then we might see crude oil extend the bullish trend toward $49.00 and $50.00.

Today critical level to watch:

Support: $45.00, $40.00, $38.50

Resistance: $49.00, $50.00