Gold bearish pressure

Gold prices managed to make another bullish close yesterday as the Fed signaled that they will not increase interest-rate this year. The precious metal and global stock market gained but the market seems hesitant to bring the price further higher as U.S Treasury yield continues to increase.

If the bearish pressure continues then trades will expect the gold price to retest $1,680 – $1,700 area again soon.

Today critical levels to watch:

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

Resistance: $1,780, $1,800

Silver no conclusion yet near $26.00

The price of silver managed to close yesterday’s trading session on the positive side. However, the bullish movement has no follow-through today. Silver prices continue trading sideways near the $26.00 resistance level and might extend the ranging movement between $25.00 – $26.00.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

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

Crude oil started a bearish correction

The bearish correction finally started at crude oil prices. Crude oil prices move lower from the $65.00 with strong bearish pressure. At the current time, $60.00 is the support level to watch. Below the level, there is the $57.60 support level. Traders could enter long positions when the price gets supported and produce a bullish reaction.

Today critical level to watch:

Support: $60.00, $57.60

Resistance: $65.00, $67.20, $70.00