Gold target $1,800

The bearish movement of gold prices is still ongoing with the $1,800 point as the downside target. However, the price appears to be consolidating not far from $1,800. Traders will wait for the release of employment data at the end of this week. The bearish situation is likely to continue, but a bullish reversal could occur this October.

Today’s critical levels to watch:

Support: $1,800

Resistance: $1,850, $1,900, $1,950, $2,000, $2,069, $2,074

Silver resumes bearish movement toward $20.00

The bearish situation of silver prices is not over yet as the price has closed below the $21.35 level. The decline is likely to continue towards the $20.00 mark next. Traders can only wait for the price to reach that point and generate a bullish reaction. As long as the price is still below $21.35, this bearish scenario has a big chance of happening. A rise and close above $21.35 could invalidate the scenario.

Today’s Critical levels to watch:

Support: $20.00

Resistance: $21.35, $23.00, $23.90, $25.00, $26.00

Crude oil extend bearish movement

Crude oil prices finally continued their bearish correction with a further decline below the $85.00 level. The price will target the $77.13 point where traders will wait for a bullish reaction. When a bullish reaction occurs, there is an opportunity to enter a long position.

Today’s critical level to watch:

Support: $85.00, $80.00

Resistance: $90.00, $95.00