Gold further bearish close

Gold prices show no reaction at the $1,780 – $1,800 area. The price continues its bearish movement and closes below $1,780. At the current time, the price attempting to hold the positions above $1,780. Will gold price bounce and start a bullish rally to test $1,850 and daily SMA 200? Alternatively, will a bearish breakout happen and gold continue downward to target $1,500 – $1,550?

Today critical levels to watch:

Support: $1,780

Resistance: $1,800, $1,850, $1,900

Silver consolidation after bearish engulfing pattern

There is breakout confirmation yet on the bearish engulfing pattern. Silver prices seem will consolidate near the current level while waiting for further bullish momentum. If the price starts a bearish correction then traders could use the $25.00 – $26.00 level to enter long positions.

Today Critical levels to watch:

Support: $27.00, $26.00, $25.00, $21.35, $20.00

Resistance: $30.00, $31.50

Crude oil extend bullish close above $60.00

There is no stop to the bullish movement of crude oil prices yet. The price has surpassed the $60.00 handle and continues its bullish movement above it. Same as yesterday, traders will continue to hold long positions or waiting sideline until a bearish correction happens.

Today critical level to watch:

Support: $60.00, $57.60

Resistance: $65.00