Gold stick near $1,950

Gold prices made a bullish close near the $1,950 but it is not a significant bullish close. The price continues to stick near the $1,950 resistance level and will wait for further reaction. Today, there is a bearish reaction from the resistance level. If the bear could maintain the bearish pressure and make a close below the triangle pattern then gold set to continue its bearish movement toward $1,900.

Today critical levels to watch:

Support: $1,900, $1,800

Resistance: $1,950, $2,000, $2,050

Silver moving sideline

The bearish pin bar pattern on the Silver daily chart is not confirmed and the price closed the day as a neutral candle. However, there is bearish pressure in today’s trading session. The price currently falls below the previous day low and the pin bar pattern low. If the bear could maintain the bearish pressure then Silver expected to test the bottom of the triangle and the $25.00 – $26.00 area again.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35

Resistance: $30.00, $31.50

Crude oil closed above $40.00

Crude oil made a bullish close in the previous trading day. The price close at $40.16 which is not a significant bullish close. If the bear could reverse the price direction today and make a close below $40.00 or $38.50 then crude oil might resume its proceeding bearish trend.

Today critical level to watch:

Support: $33.00, $30.00

Resistance: $38.50, $40.00, $49.00, $50.00