Gold no breakout below $1,500

Gold prices continue moving with high volatility near the SMA 200 and $1,550. Fortunately, there is no lower low printed on the chart. Today, the price made another bearish attempt toward the SMA 200 and $1,550. No lower low printed on the chart yet. If the bull could maintain the position and bring the price to close above $1,550 then gold might start a new bullish leg.

At the current time, gold prices expected to consolidate inside $1,500 – $1,550 area.

Today critical levels to watch:

Support: $1,500, $1,450, $1,350

Resistance: $1,550, $1,600

Silver bearish continuation?

Silver deeply underwater after the price dive from $15.20 toward $12.00 in just one day. The market might think the price will continue its bearish movement. However, there is no lower low printed yet. It is possible the price will start moving higher and start a bullish correction.

Today Critical levels to watch:

Support: $12.00

Resistance: $13.00, $14.00, $15.00

Crude oil further bearish pressure

The direction of crude oil continues bearish as price war in-progress. Traders will continue to avoid long positions and looking for a chance to enter more short positions. At the current time, crude oil has reached the level near $25.00 handle. It might extend the bearish movement toward $20.00 handle.

Today critical level to watch:

Support: $25.00, $20.00

Resistance: $28.74, $30.00, $33.00, $40.00