Gold sudden bearish momentum

Gold prices fell with strong bearish momentum yesterday. The price tested the level below $1,900 before it bounces and closed above the level. Judging from the bearish momentum, it seems the precious metal might continue its bearish movement today to retest the $1,900 support level.

If a bearish breakout happens then traders will prepare for further bearish movement toward $1,780 – $1,800.

Today critical levels to watch:

Support: $1,900, $1,800

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

Silver closed below $25.00 – $26.00

Silver finally shows a strong bearish reaction from above the $25.00 – $26.00 area. The precious metal closed below $25.00 which means possible bearish continuation. If the price continues trade lower then traders will expect movement toward the $21.35 support level.

Today Critical levels to watch:

Support: $21.35

Resistance: $25.00, $26.00

Crude oil bearish close between $38.50 – $40.00

The price of crude oil managed to climb and close above $40.00 at the end of previous week. However, the price could not maintain its bullish pressure and closed inside $38.50 – $40.00 area yesterday. If the price continue its bearish movement and fall below previous week low then traders will prepare for further bearish pressure toward $33.00 and $30.00.

Today critical level to watch:

Support: $38.50, $33.00, $30.00

Resistance: $40.00, $49.00, $50.00