Gold bearish continuation

The bearish correction of gold prices continues toward the green box area. There is more room for downside and no bullish sign yet. Traders will continue waiting near the support area for bullish reactions. When there is bullish reactions, traders could enter long positions targeting a new record high. It is better to avoid shortening the price unless traders want to take short-term speculation while hoping for a breakout below the green box area.

Today’s critical levels to watch:

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

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

Silver moving toward $30.00

Silver prices continue the bearish movement below $31.50 and soon will reach the $30.00 support level. At the current time, traders will wait until the price reaches the support level and produce bullish reactions to enter long positions. On the upside, when the price returns above $31.50 and forms a new higher swing high, traders will get confirmation of the continuation of the bullish trend.

Today’s Critical levels to watch:

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

Resistance: $35.25

Crude oil might attempt to move lower

Crude oil prices pushed below the $70.00 handle and are now on the path toward $67.20. The price might test the support level and look for a breakout below it. If the price could print a new lower swing low then the bearish trend might continue. On the upside, the price needs to climb above $70.00 and print new higher swing high to reverse the current bearish trend.

Today’s critical level to watch:

Support: $67.20, $65.00

Resistance: $70.00, $77.13, $80.00, $83.85