Gold bearish pressure below $1,850

No strong clue yet on gold next movement. The price continues trading near the daily SMA 200 and the $1,850 level. At the current time, there is bearish pressure which pushes the price below $1,850. If the bearish pressure continues and we have a bearish close below the previous week’s low then traders will prepare for further weakness toward $1,780 – $1,800.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850, $1,900, $1,950, $2,000

Silver bearish reversal?

Silver spiked higher and made a significant bullish close. The price moving bullishly as it becomes the target of retail traders who push U.S GME shares into a buying frenzy. Despite the success in the stock market, it seems silver lost its bullish pressure and start moving lower today.

If the price could close below the previous day’s low then traders will prepare for further weakness toward $25.00 – $26.00.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35, $20.00

Resistance: $27.00, $30.00, $31.50

Crude oil climb above $54.50

Yesterday, crude oil printed a bullish engulfing pattern which has follow-through today. The price breakout above the pattern high and move above the $54.50 resistance level. If the bullish momentum continues to add up then crude oil could extend its bullish movement toward $55.00 or $57.60.

Today critical level to watch:

Support: $52.40, $50.00, $49.00

Resistance: $54.50, $55.00