Gold no change in the direction

Gold prices continue under bearish pressure toward the green box area. The price might reach the area soon where traders will wait for bullish reactions. When the price formed bullish reactions, traders could enter long positions expecting the continuation of the bullish trend. Under current situation, there is no change to the outlook yet, traders will continue use each bearish correction as chance to add long positions as long as there is no new lower swing low printed on the chart.

Today’s critical levels to watch:

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

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

Silver pin bar pattern

Silver prices pushed lower yesterday but managed to recover all of the losses. The price made a bullish pin bar pattern and there is a bullish follow-through today. However, the bullish movement also loss pressure, and the price trade below the opening level now. We might see the price make another bearish attempt toward the $30.00 handle and traders will wait for further reactions near the level.

Today’s Critical levels to watch:

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

Resistance: $35.25

Crude oil bounced from $67.20

The bearish pressure on crude oil prices pushed the price down to test $67.20 support level. There are bullish reactions today and the price currently trading above the opening level. If the price resume the bullish movement tomorrow then traders could expect a test on the $70.00 level soon. Will the price climb above $70.00 and print a 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