Gold slowly trading lower

Gold prices continue losing ground below the daily SMA 200. If there is no change to the bearish situation, gold prices soon will test the $1,780 – $1,800 area. A close below area will confirm bearish continuation for medium-long term. Traders might want to observe the price reaction near the area for now.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850, $1,900, $1,953

Silver continue lower to target $20.00?

Silver prices extend the bearish close yesterday and there is further weakness in today trading session. It seems the price will continue the bearish movement toward the $20.00 support level. At the current time, the trend is bearish which mean traders will avoid long positions until the price return above $21.35 or produce major bullish reaction near $20.00.

Today’s Critical levels to watch:

Support: $20.00

Resistance: $21.35, $23.00, $23.90

Crude oil retesting $106.00?

Crude oil prices made a bearish close yesterday which formed a bearish engulfing pattern. There is a bearish indication today which might bring the price down to retest the $106.00 level. Traders will continue to monitor the price reaction near the level for now. If there is major bullish reactions then traders could enter long positions.

Today’s critical level to watch:

Support: $100.00, $95.25, $90.00

Resistance: $106.00, $130.00