Gold continues lower from $1,780 – $1,800

The rejection from the $1,780 – $1,800 area is a confirmation of bearish movement in gold prices. If gold prices move lower then it will target the $1,680 – $1,700 area. Traders will wait for bullish reactions near the area for a chance to enter long positions. On the upside, the price needs to close above the daily SMA 200 to confirm a bullish continuation.

Today’s critical levels to watch:

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

Resistance: $1,780, $1,800

Silver moving toward $20.00

Silver prices closed below the $21.35 level which confirms a bearish continuation. The price could continue lower toward the $20.00 handle where traders could consider entering long positions. We have a higher high which initially confirms a trend reversal. If the price could print a new higher low then the bullish trend will start.

Today’s Critical levels to watch:

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

Resistance: $23.00, $23.90

Crude oil breakout below $85.00

A bearish breakout happened in crude oil prices which became a major bearish continuation confirmation. The price extend the bearish movement today and managed to reach $77.13. If the price could print a bearish close below $77.13 or print a lower low then the bearish trend is set to continue.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25