Gold resumes bearish movement

Gold prices are back under bearish pressure after yesterday’s bearish close. The price continues moving lower today and will target the $1,680 support level. Traders will continue monitor the price reaction inside the $1,680 – $1,700 area. If the price could bounce with a strong bullish reaction then there is a chance of upward movement to target the $1,780 – $1,800 area.

Today’s critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver bearish reversal

Silver prices turned lower after the rejection from the $18.50 level. The price moving lower toward the $17.50 – $17.73 area again and traders will monitor the reaction. If there is a new lower low printed then the bearish trend is set to continue. On the other hand, if the price could climb and close above $18.50 then we might see a new bullish leg toward $20.00.

Today’s Critical levels to watch:

Support: $17.73, $17.50, $16.00

Resistance: $18.50, $20.00, $21.35

Crude oil has more bearish pressure

Crude oil prices are under bearish pressure as the price continues the downward movement to $85.00. Despite the situation, the price range is between $85.00 – $95.25 and traders will monitor the reactions inside it. If the price could bounce with a strong bullish reaction then traders will prepare for a new bullish leg toward $95.25.

Today’s critical level to watch:

Support: $85.00

Resistance: $90.00, $95.25, $100.00