Gold bearish reaction

Gold made a major bearish close below $1,900 but no bearish follow-through yesterday. The price currently attempting to move higher and retest the $1,900 resistance level. Traders will wait for a reaction near the resistance level. Without a strong bearish reaction or a close below the bearish pattern low then gold expected to start moving higher again.

Today critical levels to watch:

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

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

Silver waiting for the trigger to move

Similar to gold prices, silver prices traded higher yesterday without bearish confirmation below the bearish engulfing pattern. At the current time, the price is testing the previous day high. No conclusion yet on the next direction. However, if the price continues upward then $25.00 – $26.00 is the area to watch.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil more consolidation

The area around $38.50 – $40.00 will become the place where the crude oil price move. No change to the outlook yet, the price continues its sideways movement. Traders will continue to hold long positions or wait for a bullish triggers in the price.

Today critical level to watch:

Support: $38.50, $33.00, $30.00

Resistance: $40.00, $49.00, $50.00