Gold bullish pin bar pattern

The bearish pressure on gold prices managed to push the price down to the level near $1,700. Yesterday, the price bounced from the support level and formed a bullish pin bar pattern. If the price could continue moving upward then traders will expect correction toward the $1,780 – $1,800 area.

At the current time, the pattern has not confirmed to the upside yet. If bearish pressure continues to mount then traders will expect the price to reach $1,680.

Today critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver bounce reaction from $26.00

Silver prices under pressure yesterday and retest the $26.00 support level. We have a bounce reaction and the price formed a bullish pin bar pattern. If the price could make another bullish close above the pattern high then traders will expect bullish continuation toward $30.00 and $31.50.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35, $20.00

Resistance: $27.00, $30.00, $31.50

Crude oil closed below $60.00

The bearish correction of crude oil price extended for the third day. No bullish reaction yet as the price has closed below $60.00. Crude oil price might continue moving lower and target $57.60 and $54.50 – $55.00 area. At the current time, traders will continue to observe the price near the support levels before entering long positions.

Today critical level to watch:

Support: $60.00, $57.60

Resistance: $65.00, $70.00