Gold bearish correction toward $1,850

Gold prices made a bearish breakout below the $1,900 support level. The price might continue lower to target the $1,850 support level. Traders will make use of this moment to enter long positions near support levels. If the price breakout below the $1,850 support level then $1,780 – $1,800 is the area to watch as bearish target. On the upside, a close above $1,900 might become a bullish continuation confirmation.

Today’s critical levels to watch:

Support: $1,850, $1,800, $1,780, $1,700

Resistance: $1,900, $1,950

Silver closed below $23.00

Silver prices breakout and closed below the $23.00 support level which confirms the bearish scenario toward the $21.35 support level. If the price could reach the support level, traders could prepare to enter long positions on bullish reactions. On the upside, the close above $23.90 is needed to confirm bullish continuation.

Today’s Critical levels to watch:

Support: $23.90, $23.00, $21.35

Resistance: $25.00, $26.00

Crude oil continue lower below $77.13

Crude oil prices breakout and closed below the $77.13 level. There was a bullish attempt to return above the level but ended in a bearish rejection. The price might continue lower to target the $70.00 support level next. Traders will monitor the price reactions near the current level. If the price could reverse the bearish pressure and close above $77.13 then the trend could turn bullish again.

Today’s critical level to watch:

Support: $77.13, $70.00

Resistance: $80.00, $85.00, $90.00, $95.25