Gold started a bearish correction?

Gold prices made a bearish close below $1,950 with moderate bearish momentum. The precious metal continues its downward movement today and falls below the previous day low. However, the bearish pressure recedes and the price currently has returned above the previous day low.

If the price continues its bearish pressure then traders could prepare near the $1,900 support level to enter long positions.

Today critical levels to watch:

Support: $1,900, $1,800

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

Silver bearish confirmation below the pin bar

The price of silver fell below the bearish pin bar pattern low and made a bearish close. Silver has bearish follow-through today but managed to pull the price back above the previous day low. If the price continues its bearish movement then it is expected to target the $25.00 – $26.00 area.

Traders could observe the price reaction near the area and enter long positions on a bullish reaction.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35

Resistance: $30.00, $31.50

Crude oil bearish pullback toward $38.50 – $40.00

Crude oil finally made a bearish movement with moderate momentum. The price closed lower and continue moving lower today. It almost reaches the $40.00 support level. When the price testing $38.50 – $40.00 area, traders could consider entering long positions on a bullish reaction.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00