Gold reached the $1,680 – $1,700 area

Gold prices formed a bearish close below the $1,780 – $1,800 area last week which become the bearish confirmation. The price move lower at the beginning of this week and managed to reach $1,680 – $1,700. At the current time, there is a bullish bounce from the area and the price make recovery toward the opening level.

The situation is expected to continue with high volatility. If the price could close the week above $1,780 – $1,800 area then we will see cancelation of bearish breakout. It is better to stay sideline for now while waiting for the price movement to settle near either $1,780 or $1,700.

Today critical levels to watch:

Support: $1,800, $1,780, $1,700, $1,680

Resistance: $1,850, $1,900

Silver further weakness below $25.00

Silver prices experienced a bearish breakout below $25.00 and the price move lower significantly today. Despite the bearish pressure, it seems the price currently attempting recovery toward the opening level. Similar to what happens in gold prices, traders will monitor the price movement for now.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

Resistance: $26.00, $27.00, $29.00, $30.00, $31.50

Crude oil rejected below $70.00

It seems crude oil prices bullish trend put to halt as the price closed below the $70.00 support level on the weekly timeframe. The price extends the bearish movement below $67.20 and is set to test the $65.00 handle. If the price form a bearish close below $65.00 or lower low then traders will prepare for further weakness.

Today critical level to watch:

Support: $67.20, $65.00, $60.00

Resistance: $70.00, $77.13