Gold maintains the level above $1,680

Gold prices might be under pressure last week but it maintained the close above $1,680. At the end of the week, the price settled near $1,700 handle. This week, the price might continue to maintain its bullish pressure and will attempt to break out above $1,700.

Traders will observe the reaction inside $1,680 – $1,700 this week. If gold could close above $1,700 then traders will add long positions.

Today critical levels to watch:

Support: $1,680, $1,650, $1,600

Resistance: $1,700

Silver no bearish breakout

The price of silver was under pressure last week and rejected from $15.20 resistance. There was a bearish engulfing pattern but not enough bearish momentum to confirm the pattern. At the current time, as long as there is no breakout below the pattern low, silver has the opportunity to bounce and breakout above $15.20.

Today Critical levels to watch:

Support: $14.40

Resistance: $15.00, $15.20, $15.60

Crude oil set to challenge $20.00

The OPEC production cut is implemented this month and crude oil should hold its bullish pressure. Last week, the price closed inside the bullish channel and not far from $20.00. This week, the price might breakout above the resistance level and continue its bullish movement.

However, if a bearish breakout below the channel happens then traders will prepare for a short-term bearish reversal.

Today critical level to watch:

Support: $18.00, $16.00

Resistance: $20.00