Gold resume bearish movement?

The bullish reversal after the release of U.S inflation data triggers a recovery in assets against the U.S dollar. Gold prices closed near the opening level and looking to add more gain. However, the price is currently under bearish pressure and might resume the bearish movement. If the price continues moving lower then it will target the $1,580 – $1,600 area.

Today’s critical levels to watch:

Support: $1,600, $1,585

Resistance: $1,680, $1,700, $1,780, $1,800

Silver stick near $18.50

Silver prices bounced from the $18.50 level yesterday. However, the price come under bearish pressure again today and will retest the $18.50 level. If the price breakout below the support level and prints a new lower low then traders will prepare for a bearish continuation toward $17.73 and $17.50

Today’s Critical levels to watch:

Support: $18.50, $17.73

Resistance: $20.00, $21.35

Crude oil ranges between $85.00 – $90.00

Crude oil prices printed a bullish close yesterday to close near the $90.00 handle. The price is currently back under bearish pressure which might indicate further consolidation between the $85.00 – $90.00 area. Traders will continue waiting for a breakout from the $85.00 – $90.00 area to confirm the next direction.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25