Gold stick near $1,900

Gold prices made a bearish close yesterday but maintained the close inside the Tuesday range. The precious metal currently sticks near the $1,900 resistance level and waiting for further reaction. If the price gets rejected again from the resistance level then the $1,850 – $1,900 area is maintained.

We think gold still has more room downward and could target the $1,780 – $1,800 area.

Today critical levels to watch:

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

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

Silver resume the bearish movement?

Yesterday, the silver price made a bearish close below Tuesday low. It could be a sign that the price will resume its bearish trend and target $21.35 also $20.00. At the current time, the price attempting to move higher and cancel the bearish outlook. Even if the price moves upward, $25.00 – $26.00 will become the area where traders could enter short positions.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil sideways near $38.50 – $40.00

The bearish attempt toward $38.50 ended with a bullish close yesterday. No breakout and close below $38.50 which means crude oil will continue its sideways movement between $38.50 – $40.00. Traders will continue waiting sideline, for now, waiting for the price to break out from $38.50 – $40.00 area.

Today critical level to watch:

Support: $38.50, $33.00, $30.00

Resistance: $40.00, $49.00, $50.00