Gold no breakout above $1,780

Gold upward movement could not break and close above the $1,780 resistance level. The price got rejected yesterday and closed lower. Fortunately, there is no bearish close below Tuesday low. Today, there is bearish pressure but no confirmation yet that the price will start moving lower.

Traders will continue watching the price reaction near $1,780 for now.

Today critical levels to watch:

Support: $1,750, $1,700

Resistance: $1780, $1,800

Silver rejection from $18.50

the bullish movement of silver almost reached $18.50 yesterday. The bull maintains the bullish pressure the entire day but at the end of the day, silver moves lower and closed below its opening level. We have a bearish rejection from $18.50 but it is not final yet for the silver next direction.

The price currently moves between $17.73 – $18.50 and will wait for a breakout. We still think the price will continue moving upward and continue its bullish trend above $18.50.

Today Critical levels to watch:

Support: $18.00, $17.73, $17.50

Resistance: $18.50, $20.00

Crude oil consolidation near $40.00

The price of crude oil continue to stick near $40.00 resistance. No conclusion yet on the next direction of crude oil. At the current time, crude oil prices expected to continue its consolidation between $38.50 – $40.00. Traders will wait for the price to form either higher high or lower low to determine the next direction.

Today critical level to watch:

Support: $38.50, $35.00, $34.36

Resistance:  $40.00