Gold bearish pullback toward $1,850

Gold prices experience bearish pressure after yesterday’s bullish close. The price currently trading near the $1,850 level and will wait for further reaction. If the price could maintain the position above $1,850 and bounce from it then traders could add more long positions. On the upside, $1,900 will become the major level to watch for a bearish reversal.

Today critical levels to watch:

Support: $1,850, $1,800, $1,780

Resistance: $1,900, $1,953

Silver bearish pullback toward $21.35?

Silver prices managed to print a bullish close yesterday but no bullish follow-through in today’s trading session. The price might start moving lower and test the $21.35 support level. Traders will observe the price reaction near the support level for a chance to enter long positions on bullish reactions.

Today’s Critical levels to watch:

Support: $21.35

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil hovering above $106.00

Crude oil prices trading sideway above the $106.00 handle. No bullish continuation yet but we think the price will continue the upward movement to target the $130.00 resistance level. However, if the price come under pressure again, the $106.00 support level might become the place traders look for long positions.

Today’s critical level to watch:

Support: $106.00, $100.00, $95.25, $90.00

Resistance: $130.00