Gold back under bearish pressure

The bullish reaction which happened yesterday in gold prices not sustained. The price start falling again today after the price attempted to climb above the bullish candlestick. At the current time, the price is supported by the Fibonacci Retracement level. Next week, the price might attempt to breakout lower to continue the bearish movement. On the lower side, $3,000 could become the bearish target to watch.

Today’s critical levels to watch:

Support: $3,250, $3,200, $3,150

Resistance: $3,350, $3,400, $3,500

Silver ranging between $31.50 – $33.00

There is no change to the situation of silver prices. It is currently trading between the $31.50 – $33.00 area, and traders will wait for a close outside the range. When the price breakout and close outside of the area, traders will get confirmation on where the price will move next. Under current situation, traders could use the range to do range trading.

Today’s Critical levels to watch:

Support: $32.50, $31.50, $30.00, $29.00

Resistance: $33.00, $35.25

Crude oil stay below $65.00

The price of crude oil stick below the $65.00 level but no strong bearish pressure. It might attempt to trade upward and resume the bullish movement. However, if the price pushed lower with strong bearish momentum, then it will resume the bearish trend to target a new lower swing low.

Today’s critical level to watch:

Support: $60.00, $52.4

Resistance: $65.00, $67.20, $70.00, $77.13