Gold resume bearish movement?

Gold prices pushed lower yesterday with a strong bearish close. There is a bearish attempt in today’s trading session but the price has returned to the opening level. If gold prices could reverse the bearish pressure and start moving upward then a new higher low will be printed. It could signal a trend change from bearish to bullish. However, the price needs to print a higher high next to confirm the bullish reversal.

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

No change yet to the silver prices situation where the price stick near the $18.50 support level. It seems the consolidation will continue and traders will monitor the price reactions from the support level. If silver prices could start moving upward and print a new higher high then the trend could change from bearish to bullish.

Today’s Critical levels to watch:

Support: $18.50, $17.73

Resistance: $20.00, $21.35

Crude oil returns above $85.00

The close below the $85.00 handle confirms a bearish continuation. However, the price stage bullish movement and closed above $85.00 yesterday. Crude oil prices then continue the bullish movement today and get near the $90.00 handle. Will the price extend the bullish movement and start a new bullish trend?

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25