Gold closed below $1,850

Gold prices failed the test on the $1,850 level and made a bearish close below it. The precious metal now at risk of further weakness to test daily SMA 200 and previous swing low. If the price could print lower low then traders will expect long-term bearish continuation. However, if the price return above $1,850 then there is a chance for bullish continuation toward $1,900 and $2,000.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850, $1,900, $2,000

Silver stay inside the triangle pattern

Despite the bearish pressure in yesterday’s trading session, silver prices managed to maintain the position inside the triangle pattern. No breakout and the price will continue its ranging movement inside the triangle pattern. Traders will continue waiting for a breakout from the triangle pattern before deciding the next direction.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil to more consolidation near $45.00

The price of crude oil continues hovering near the $45.00 handle and waiting for bullish momentum to move further upward. If the price starts moving higher then $49.00 and $50.00 is the upward target. Traders will continue to hold long positions with a stop below the previous swing low or the $45.00 handle.

Today critical level to watch:

Support: $45.00, $40.00, $38.50

Resistance: $49.00, $50.00