Gold return to $1,900

The bullish close at the end of the previous week could not bring gold prices further higher. Today, the price moves sharply lower and manages to reach $1,900 support level. If gold could not maintain the positions above $1,900 then traders will expect a bearish breakout toward $1,850 and $1,780 – $1,800 area.

Today critical levels to watch:

Support: $1,900, $1,850, $1,800, $1,780

Resistance: $1,950, $2,000

Silver rejection from $25.00 – $26.00 area

Yesterday, silver formed a bearish pin bar pattern after tested the $25.00 resistance. The pair confirmed the pattern by the bearish movement below it today. If the price continues to add bearish pressure then we might see silver start a bearish leg toward $21.35 and $20.00 support level.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil more consolidation near $38.50 – $40.00

The overall trend continues sideways near the $38.50 – $40.00 area. Crude oil prices pushed lower yesterday and settled inside the $38.50 – $40.00 area again. Today, there is a bullish reaction but limited inside the previous day range. Crude oil prices expected to continue its consolidation.

Today critical level to watch:

Support: $38.50, $33.00, $30.00

Resistance: $40.00, $49.00, $50.00