Gold searching for direction

Gold prices printed a major bullish close last week and there was a bullish continuation yesterday. However, the upward movement lost bullish pressure and closed the day on the bearish side. At the current time, the price is under bearish pressure but maintains the movement near yesterday’s low. Gold prices might trade sideway near the current level while waiting for further development.

Today’s critical levels to watch:

Support: $1,600, $1,585

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

Silver retest $18.50?

Silver prices reverse the bullish pressure and made a bearish close yesterday. The price continues the bearish movement today and might target the $18.50 support level. If the price could reverse the bearish pressure and start moving upward again then traders will expect movement toward $20.00 and $21.35.

Today’s Critical levels to watch:

Support: $18.50, $17.73

Resistance: $20.00, $21.35

Crude oil settled near $85.00

Crude oil prices pushed lower below the $85.00 handle but managed to close the day near the level. Today, the price is trading under bearish pressure similar to the previous day’s situation. Will the price return near and close near $85.00 again to extend the sideway movement? Traders might want to continuously monitor the price reactions from $85.00 for now.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25