Gold further bearish correction toward $1,780 – $1,800?

The bull could not shake the bearish pressure on gold as the price closed near $1,900 yesterday. The price moved lower below yesterday’s low. Traders could expect gold prices to test Monday low and August’s low soon. Further weakness will bring the price down to reach $1,850 and $1,780 – $1,800 area.

Today critical levels to watch:

Support: $1,850, $1,800, $1,780

Resistance: $1,900, $1,950, $2,000

Silver on the path to $21.35

Silver prices moved below Monday’s low and soon will test the August’s low. No reason to become bullish at the moment as the price is rejected from $25.00 yesterday. If the price continues its bearish movement then traders will expect Silver to target $21.35 and $20.00.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil holding out near $38.50 – $40.00

Crude oil pushed below $38.50 two weeks ago and the price managed to close above $40.00 last week. However, this week the price pushed lower again, and currently crude oil trade inside $38.50 – $40.00. No confirmation on the price next direction yet. If the price could continue to maintain the positions near $38.50 – $40.00 then crude oil might start moving higher again.

Today critical level to watch:

Support: $38.50, $33.00, $30.00

Resistance: $40.00, $49.00, $50.00