Gold more consolidation between $1,850 – $1,900

Gold prices movement continues its sideways trend inside $1,850 – $1,900 area. There is no break out of the range yet and traders will continue waiting for now. On the short-term consideration, the trend is bearish as the major bearish candlestick present. However, on the long-term view, the trend is bullish as long as there is no lower low printed below $1,850.

Today critical levels to watch:

Support: $1,850, $1,800, $1,780

Resistance: $1,900, $1,950, $2,000

Silver hovering below $25.00

Silver closed lower but there is no movement below Monday’s low yet. The price currently contained inside Monday’s range and expected to resume its upward movement to test $25.00. On the daily chart, traders could see the triangle pattern has not broken yet. Silver next direction will wait for a breakout either from the triangle or the $25.00 – $26.00 area.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil continues moving near the $38.50 – $40.00 area

Crude oil secured a bounce from the $40.00 handle on Monday. There is no bullish follow-through yet on the price as the price closed near its opening level yesterday. Today, the bull is attempting to bring the price higher above the previous day’s high. Will crude oil continue its upward movement and breakout above the September-October high?

Alternatively, will crude oil prices continue its ranging movement near the $38.50 – $40.00 area?

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00