Gold hovering near $1,900

Gold prices fell below the bearish pin bar pattern low yesterday. Fortunately, the price managed to recover and closed near its opening level. It seems the price under pressure today but we think the price will continue trading sideline near the $1,900 resistance level.

If the price makes a bearish correction then traders will use $1,850 and the daily SMA 200 as levels to enter long positions.

Today critical levels to watch:

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

Resistance: $1,900, $2,000

Silver more consolidation near trendline

No strong movement yet from the trendline. Silver prices continue making daily closes near the trendline. We might see the price closed near the trendline at the end of this week. Next week, traders will expect further consolidation near the trendline.

Today Critical levels to watch:

Support: $27.00, $26.00, $25.00, $21.35, $20.00

Resistance: $30.00, $31.50

Crude oil testing the top of range

Crude oil prices building more bullish pressure and currently testing the top of the yellow box range. No breakout yet, the price might close inside the range at the end of the week. We still expect the price will break out and continue its bullish movement toward the $70.00 resistance level.

Today critical level to watch:

Support: $65.00, $60.00, $57.60, $55.80, $54.50

Resistance: $67.20, $70.00