Gold reach $1,850, targeting $1,800

Gold move lower under strong bearish pressure since the downward movement from $1,950. Today, the price managed to reach the $1,850 support level and there is no bullish reaction yet. If the bearish movement continues then gold is expected to target $1,780 – $1,800 support area.

Today critical levels to watch:

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

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

Silver further bearish pressure

Silver easily moves lower and almost reaches the $21.35 support level. The price might extend the bearish movement and target the $20.00 support level. At the current time, traders will wait for a bullish reaction before placing any major long positions.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil continues to trade inside $38.50 – $40.00

The price of crude oil undergoes consolidation inside the $38.50 – $40.00 area. No momentum movement formed yet and traders will wait for reaction from the $38.50 – $40.00 area. We think the price will move higher in the long-term. However, the price might continue to trade near the current level for the medium-term.

Today critical level to watch:

Support: $38.50, $33.00, $30.00

Resistance: $40.00, $49.00, $50.00