Gold stay inside $1,850 – $1,900 area

The bearish pressure on gold prices managed to create a bearish close yesterday. No lower low or close below Monday’s low. There is a bullish reaction today but the price mostly trading inside the previous day range. It seems gold prices might continue trading sideways inside $1,850 – $1,900 for now.

Today critical levels to watch:

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

Resistance: $1,900, $2,000

Silver stick inside $25.00 – $26.00

The price pushed lower and closed near $25.00 yesterday. No breakout from the $25.00 – $26.00 range yet. If the bull could push the price higher and close above $26.00 then traders will expect bullish continuation. It is time to wait and see for now until an actual breakout happens.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

Resistance: $26.00

Crude oil bearish correction

Crude oil prices are in a bearish correction phase after the rejection from the $49.00 – $50.00 resistance area. We have two consecutive bearish closes and the price might continue toward $45.00. Today, the price is slightly higher and trading inside the previous day range. Will crude oil resume its bullish pressure and breakout above $49.00 – $50.00 this year?

We think the price will close near $50.00 by the end of the year.

Today critical level to watch:

Support: $45.00, $40.00, $38.50

Resistance: $49.00, $50.00