Gold rejection from $1,780 – $1,800

Gold prices showed weakness near the $1,780 – $1,800 which could signal a new bearish leg. If the bearish movement started then it could target the $1,680 – $1,700 area. Traders will prepare near the area for chance to enter long positions when the bearish movement loss momentum.

Today’s critical levels to watch:

Support: $1,700, $1,680, $1,600, $1,585

Resistance: $1,780, $1,800

Silver fall below $21.35

Silver prices fall below the $21.35 support level which means the bearish leg has started. As mentioned in the previous analysis, traders will prepare for a test of the $20.00 support level. If silver prices could bounce from the level then traders could enter long positions with $21.35, $23.00, and $23.90 as bullish targets.

Today’s Critical levels to watch:

Support: $21.35, $20.00, $18.50, $17.73

Resistance: $23.00, $23.90

Crude oil bearish pressure at $85.00

Crude oil prices continue under bearish pressure near the $85.00 support level. Fortunately, there is no bearish breakout below the level as the price always closes above the level at the end of the day. Will the price finally make a bearish close below $85.00 to confirm a bearish continuation toward $77.13? Alternatively, will crude oil prices stay inside $85.00 – $95.25 range?

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25