Gold no bullish reaction yet

The price of gold continue its bearish movement below $1,780 and tested the November 2020 low. There is no bullish reaction yet which means traders will continue to avoid long positions. However, traders could enter speculative long positions near the current level with a stop below November’s 2020 low. If the price could bounce and move upward with strong bullish momentum then gold might start a new bullish trend.

Today critical levels to watch:

Support: $1,780

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

Silver tested $26.00 support level

Silver makes a strong bearish movement toward the $26.00 support level. Fortunately, the price lost the bearish momentum and reverse to the upside. At the current time, the silver price is trading near its opening level. If the price could close the day near the current level then traders will expect further bullish pressure next week.

Today Critical levels to watch:

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

Resistance: $30.00, $31.50

Crude oil time for a bearish correction?

Crude oil price finally made a significant bearish close yesterday. The price closed near the $60.00 handle and there is a bearish continuation today. If the bear continues to add more bearish pressure then crude oil could fall toward $57.60 or the $54.50 – $55.00 area.

Traders could observe the price reaction near the support level and consider entering long positions on bullish reaction.

Today critical level to watch:

Support: $57.60

Resistance: $60.00, $65.00