Gold rejection from $1,900

We have a bearish rejection from the $1,900 resistance level. Gold price formed a bearish pin bar pattern. If the pattern is confirmed then the gold price is expected to move lower and test the $1,850 support level. No change to the outlook of gold price yet which expected to continue trading between $1,850 – $1,900.

Today critical levels to watch:

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

Resistance: $1,900, $2,000

Silver need more confirmation

Silver price closed above $26.00 but not a strong bullish close. The price currently moves lower and testing the $26.00 level. If the bearish movement continues and silver close inside the $25.00 – $26.00 range again then traders will expect more consolidation inside the range.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

Resistance: $26.00, $27.00, $30.00

Crude oil rejected from $49.00

Crude oil price was rejected from the $49.00 resistance level and made a bearish close yesterday. The price might continue moving bearishly today and start a bearish correction. However, we think as long as there is no further lower close below the previous day’s low, crude oil will close the year near $49.00 – $50.00.

Today critical level to watch:

Support: $45.00, $40.00, $38.50

Resistance: $49.00, $50.00