Gold solid bearish movement

Gold prices continue the bearish pullback and will target the green box area or the $2,530 – $2,550 area. Traders could wait near the support levels for bullish reactions. When there are bullish reactions and no change to the bullish structure then traders could enter long positions. No need to be in a hurry, let the price bottomed out near the support level before starting to enter long positions.

Today’s critical levels to watch:

Support: $2,600, $2,550, $2,530

Resistance: $2,685, $2,750, $2,800, $2,841

Silver resume bearish movement below $31.50

The bearish pressure on silver prices continues below the $31.50 support level and now the price will target the $30.00 handle. We think the price will bounce from the support level and form a new higher swing low. A stop hunt below $30.00 could happen too before the price could bounce up. Traders will monitor the price reactions near $30.00 if it manages to reach it. When there are strong bullish reactions, traders could enter long positions.

Today’s Critical levels to watch:

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

Resistance: $35.25

Crude oil mostly sideways

Crude oil prices upward movement could not print a new higher swing high and it is currently under bearish pressure. The price falls below $70.00 again and will target the $67.20 support level or lower. If the price could print a new lower swing low then the bearish trend could continue. On the upside, the price needs to print a new higher swing high to reverse the current bearish trend.

Today’s critical level to watch:

Support: $70.00, $67.20, $65.00

Resistance: $77.13, $80.00, $83.85