Gold will test $1,780 – $1,800

The recovery movement of gold prices continues and soon will reach the $1,780 – $1,800 area. Above the area, there is daily SMA 200 to watch for possible reversal. Traders will observe the price movement near the area and the averages. If there is a major bearish reversal then we might see a bearish attempt toward the $1,680 – $1,700 area.

Today critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver set for recovery toward $25.00?

Silver prices show bullish pressure as the price climb above three days high. We might see the price continue moving upward and target the $25.00 – $26.00 area. Silver prices need to close above $26.00 to confirm long-term bullish continuation. At the current time, traders will watch the price reaction near $25.00 – $26.00

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil waiting for a test on $70.00

There is no test on the $70.00 resistance level yet. Crude oil prices closed lower yesterday and there is bearish follow-through today. However, the bearish pressure seems to recede and the price trade back above the previous day’s high. Traders will continue waiting for a test on $70.00 to determine crude oil prices next direction.

Today critical level to watch:

Support: $67.20, $65.00, $60.00

Resistance: $70.00, $77.13