Gold continue under pressure

Gold prices could not break the bearish pressure as it resumed the bearish movement. If there is no change to the situation, gold prices might target the $1,580 – $1,600 area. In the previous bullish attempt, gold prices could not print a new higher high which means the trend has not changed yet from bearish to bullish.

If the price continues lower and prints a new lower low then traders will prepare for a bearish continuation.

Today’s critical levels to watch:

Support: $1,600, $1,585

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

Silver maintains a level near $18.50

The overall movement of silver prices is bearish for the current time. The price stick near the $18.50 support level without strong bullish reactions. Traders will continue to monitor the price reactions from the support level. If the price could bounce with strong bullish reactions then we might print a higher low which will confirm a bullish reversal.

Today’s Critical levels to watch:

Support: $18.50, $17.73

Resistance: $20.00, $21.35

Crude oil breakout and closed below $85.00

The bearish pressure on crude oil prices managed to push the price down to close below $85.00. The price continues under bearish pressure but no movement below yesterday’s low yet. If the price could reverse the bearish pressure and close above $85.00 then we might see another bullish attempt to print a higher high.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25