Gold consolidating between $1,900 – $1,950

Gold prices looks will start a bearish correction toward $1,900 level. However, there is no bearish pressure as the price hanging at the middle of $1,900 – $1,950. Traders will wait for further reaction near the current level. If the price trade lower then traders could use $1,900 and $1,850 as levels to enter long positions.

Today’s critical levels to watch:

Support: $1,900, $1,850, $1,800, $1,780, $1,700

Resistance: $1,950

Silver more ranging between $23.00 – $23.90

Silver prices look trading sideways after it got rejected from the $23.90 resistance level. The consolidation between $23.00 – $23.90 will continue and traders will continue to monitor the price reactions inside the area. If the price breakout lowers then we might see a continuation toward the $21.35 support level. On the other hand, a breakout and close above $23.90 is confirmation of bullish movement toward $25.00 – $26.00 area.

Today’s Critical levels to watch:

Support: $23.90, $23.00, $21.35

Resistance: $25.00, $26.00

Crude oil moving toward $77.13?

Crude oil prices is under bearish pressure and might continue the bearish movement to test $77.13 support level. If the price could maintain the position above $77.13 and bounce from it then there is chance of bullish reversal. A new higher high could become the confirmation for long-term bullish reversal.

Today’s critical level to watch:

Support: $77.13, $70.00

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