Gold bearish close

Gold prices are under bearish pressure and have returned to the weekly opening level. It might start a bearish correction toward $2,685 where a bullish bounce might happen. Traders will continue to use each bearish movement in gold prices as a chance to add more long positions. On the upside, $2,841 is the bullish target to watch.

Today’s critical levels to watch:

Support: $2,685, $2,600

Resistance: $2,750, $2,800, $2,841

Silver set to test $31.50 – $32.50 area

Silver prices closed lower near the $32.50 level, and there was a bearish attempt today. Despite the bearish pressure, silver prices stayed inside the previous day’s range and might stick near $32.50 for now. If the price bounces upward with strong bullish momentum, then the bullish trend could continue. At the current time, traders will use the $31.50 – $32.50 area to add long positions.

Today’s Critical levels to watch:

Support: $33.05, $32.50, $31.50, $30.00, $29.00

Resistance: $35.25

Crude oil testing $70.00

The bounce from $67.20 brought crude oil prices to close above $70.00. However, the price is under bearish pressure and testing the $70.00 level. We might see crude oil prices close the week near $70.00. Overall, no lower swing low printed on the latest bearish attempt. On the upside, as long as there is no new higher swing high, the price could continue the bearish trend.

Today’s critical level to watch:

Support: $70.00, $67.20, $65.00

Resistance: $77.13, $80.00, $83.85