Gold bearish pin bar pattern

The bounce from $1,680 – $1,700 area gains more bullish momentum. There was a further bullish movement in gold yesterday but the price ended the day lower. Gold price printed a bearish pin bar pattern and under risk of further weakness. If the price move lower then traders will observe the price reaction near the $1,680 – $1,700 area.

Today critical levels to watch:

Support: $1,700, $1,680, $1,550, $1,500

Resistance: $1,780, $1,800

Silver limited near $26.00

Silver price attempted to move above $26.00 handle and manage to break out above it. However, the price reversed before the end of the trading day and closed lower near $26.00. Traders will expect the price to continue its ranging movement between $25.00 – $26.00 area for now.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

Resistance: $26.00, $27.00, $30.00, $31.50

Crude oil continues the bullish trend?

The price of crude oil was pushed lower below $65.00. Initially, we think the price will start a bearish correction and target the $60.00 support level. However, the price managed to find support near $65.00 and bounce from it. At the current time, the price is building more bullish pressure and might target $67.20 and $70.00 resistance levels.

Today critical level to watch:

Support: $65.00, $60.00, $57.60

Resistance: $67.20, $70.00