Gold tumble below $1,850

Gold prices finally on the path lower toward the $1,780 – $1,800 area. The price closed below $1,850 yesterday and there is bearish follow-through today. Without any change in the sentiment, traders will expect gold to reach daily SMA 200 or the $1,780 – $1,800 area soon.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850, $1,900, $1,950

Silver closed lower but inside the triangle pattern

The precious metal made another bearish close yesterday and there is bearish follow-through today. Silver prices touch the bottom of the triangle pattern and will attempt to breakout below it. If a bearish breakout happens then silver is expected to continue lower and target $21.35, $20.00 support levels.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil set to target $49.00 and $50.00

We have another bullish close yesterday and crude oil has surpassed the September – October high. At the current time, crude oil prices are moving higher and testing the July high. A breakout above the high will bring crude oil prices higher toward the $49.00 and $50.00 resistance level.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00