Gold consolidation inside $1,850 – $1,900?

Gold prices bounced from the $1,850 support level and managed to close near the $1,900 resistance level yesterday. The precious metal slightly lower today but no lower low printed on the daily chart yet. The price might continue trading inside the $1,850 – $1,900 area for now.

If the bearish pressure continues to mount then gold prices could continue its bearish movement and target the $1,800 support level.

Today critical levels to watch:

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

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

Silver on the path toward $25.00 – $26.00

Silver prices continue its bullish closes and getting near the $25.00 – $26.00 resistance area. The price might continue moving upward and test the resistance area soon. If there is a major bearish pattern after the test then traders could consider entering short positions with $21.35 and $20.00 as the target.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil bearish close at $38.50 – $40.00

Crude oil prices closed lower yesterday but managed to close inside the $38.50 – $40.00 area. The price might continue to consolidate near the $38.50 – $40.00 area for now. We think the price will trade to the bullish side in the long-term but prepared for a more bearish movement below $38.50.

Today critical level to watch:

Support: $38.50, $33.00, $30.00

Resistance: $40.00, $49.00, $50.00