Gold bearish pressure
Gold prices got rejected from the daily SMA 200 and made a bearish close yesterday. The bearish close has no continuation yet in today’s trading session. If the price continues moving lower and closed below yesterday’s low then we might see a bearish continuation toward the $1,780 – $1,800 area.
Today critical levels to watch:
Support: $1,800, $1,780
Resistance: $1,850, $1,900, $1,953
Silver closed below $21.35
Silver prices closed below $21.35 support level yesterday also near the previous swing low. If the price printed a new lower low and closed below yesterday’s low then the bearish trend could continue toward the $20.00 support level. On the other hand, if the price closes above $21.35 at the end of the day then we might see a bullish reversal in the next week.
Today’s Critical levels to watch:
Support: $21.35, $20.00
Resistance: $23.00, $23.90, $25.00, $26.00
Crude oil consolidation between $100.00 – $106.00
Crude oil prices made a neutral close yesterday. The movement range is contained inside the Wednesday’s range. The price might continue trading inside the $100.00 – $106.00 range now while waiting for a breakout. If the price continues to move lower then it will target the $95.25 level. A close above $106.00 might indicate the start of another bullish leg.
Today’s critical level to watch:
Support: $100.00, $95.25, $90.00
Resistance: $106.00, $130.00