Gold turn lower

The bullish movement in gold prices seems to be losing momentum today and there is a possibility of a decline. If the gold price moves down then the $1,850 point will be the point where a bullish bounce likely happens. A bounce from this point could bring gold prices to continue their rise towards $1,900. Conversely, a further decline and close below $1,850 would open the door to form a lower swing low.

Today’s critical levels to watch:

Support: $1,850, $1,800

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

Silver retest $21.35?

Silver prices have returned above the $21.35 mark but appear to be under bearish pressure at the moment. The price could move down to test the $21.35 point where there is a chance of a higher swing low forming. If the price can bounce up then silver price can move towards the $23.00 – $23.90 area.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil bearish continuation?

Strong bearish pressure hit crude oil prices and again opened up opportunities for a further bearish correction toward $77.13. The price is still trying to move up today but experienced a rejection near the $85.00 point. If the price continues its weakness then traders will wait near the $77.13 level for a bullish reaction and long position opportunities.

Today’s critical level to watch:

Support: $85.00, $80.00

Resistance: $90.00, $95.00