Gold bearish pressure

Gold prices made three consecutive bullish closes, but it experiences major bearish move today. However, the bearish move has stopped now, and the price slowly recover above yesterday’s low. If the price could recover to the opening level, then we might see bullish continuation in tomorrow trading session. Something to note, the U.S. market is in holiday tomorrow, which might prompt less volatility and drive gold prices sideways until the weekly close.

Today’s critical levels to watch:

Support: $3,250, $3,200, $3,150

Resistance: $3,350, $3,400, $3,500

Silver new range

Silver prices formed a range between $35.25 – $36.80 and might keep consolidating inside it for now. We have adjusted the Fibonacci level now. The price is in bullish trend, and we expect upward movement to target $38.8 and $40.00 level. On the lower side, the level around $35.25 is the 38.2% retracement of the latest bullish move. If the price overshoot to the downside, then $33.773 – $34.44 will act as major support level.

Today’s Critical levels to watch:

Support: $35.25

Resistance: $38.34, $40.00

Crude oil no bullish continuation

Crude oil prices made sharp gain yesterday and moving away from $65.00. However, there is no bullish continuation in today trading session. It seems the price might consolidate near the green box area and waiting for momentum movement. If the price turn lower and close below $65.00 then the trend might turn bearish again. On the other hand, if the price could immediately continue the bullish movement, then traders could expect test on $70.00 and $77.13.

Today’s critical level to watch:

Support: $65.00, $60.00, $52.4

Resistance: $67.20, $70.00, $77.13