Gold extend bearish movement toward $1,680 – $1,700

The breakout from the $1,780 – $1,800 confirmed bearish continuation and gold prices will target the $1,680 – $1,700 area now. Traders will stay sidelined for now and wait until the price reaches the support area. If there is a significant bullish reaction then traders could enter long positions. However, the gold price trend might continue to bearish as long as the price stay below $1,800.

Today critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver getting near $18.50

Silver prices extend the bearish movement today and getting near the $18.50 support level. A test on the support level is imminent and traders will observe the price reaction from the support level. If there is a major bullish reaction from the support level then traders could consider entering long positions.

Today’s Critical levels to watch:

Support: $18.50

Resistance: $20.00, $21.35, $23.00, $23.90

Crude oil under bearish pressure

Crude oil prices come under bearish pressure again after the bounce from the $95.25 support level. The upward movement could not reach the $106.00 level and the price got near the $95.25 support level again. If the price breakout and closes below $95.25 then the trend will continue to bearish for the medium-term.

Today’s critical level to watch:

Support: $100.00, $95.25, $90.00

Resistance: $106.00, $130.00