Gold bearish pressure

The upward movement of gold prices stalled and there was bearish close yesterday. The price continue under bearish pressure today, but maintain the position near yesterday’s low. If the price could immediately reverse the bearish pressure, then traders will expect bullish continuation this week. Tomorrow the Fed FOMC meeting might give better confirmation on short-term gold prices trend.

Today’s critical levels to watch:

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

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

Silver bullish continuation

Silver prices launched upward, resuming the bullish trend toward the next target. On the upside, the $38.34 and $40.00 are the targets to watch. As the conflict in the Middle East continue to escalate, traders will continue to hold long positions in precious metals. Whenever a bearish pullback happen, it is a chance for traders to continue to add long positions.

Today’s Critical levels to watch:

Support: $35.25

Resistance: $38.34, $40.00

Crude oil testing $77.13

The latest movement in crude oil prices has brought it to reach $77.13 level. There was bearish rejection yesterday from the level, but it seems the bullish trend will continue. Escalation of conflict between Israel-Iran is the major cause for the current upward movement. If the conflict continues to brew-on, then crude oil prices will eventually break out from the $77.13 and target $80.00.

Today’s critical level to watch:

Support: $67.20, $65.00, $60.00, $52.4

Resistance: $70.00, $77.13