Gold closed below $1,900

The bearish pressure on gold, pushed the price down and closed below $1,900. The precious metal is under threat of further bearish continuation. However, there is no lower low printed yet and the price currently stick near $1,900. If the price could climb and close above $1,900 then it might continue upward to target $1,950 and $2,000.

Today critical levels to watch:

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

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

Silver waiting for further bearish confirmation

Silver rejected from the $25.00 – $26.00 area and fell below the bearish pin bar pattern. We have initial bearish confirmation and the bear just need another bearish close below previous day low to confirm bearish continuation. At the current time, there is no lower low printed yet which means a bullish close above $25.00 will cancel the bearish outlook.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil continue sideway near $38.50 – $40.00

There is no change to the outlook of crude oil yet. The consolidation near $38.50 – $40.00 expected to continue. Traders will continue waiting sideline until major momentum movement away from $38.50 – $40.00 happen.

Today critical level to watch:

Support: $38.50, $33.00, $30.00

Resistance: $40.00, $49.00, $50.00