Gold consolidate between $1,780 – $1,800

The upward movement on gold prices seems paused between the $1,780 – $1,800 area. At the current time, the price is under bearish pressure but continues to maintain the position above $1,780. On the global market, the overall trend is bearish as the U.S dollar index made a bullish breakout.

We might see the price continue under pressure but stay optimistic that gold prices will start moving up again when people see inflation numbers creeping up.

Today critical levels to watch:

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

Resistance: $1,800

Silver under bearish pressure

Silver prices continue to experience bearish pressure but no lower low printed on the chart. There is no clue yet on the price next direction. It might continue lower to target $21.35 or start moving upwards to reach the $25.00 – $26.00 area. Traders will prepare near both levels for reactions and chances to enter positions.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil bearish continuation

Crude oil prices closed below the $65.00 support level and confirm bearish continuation. The price might continue its downward movement now and target $60.00 support level. Traders will avoid long positions until the price reaches the support level or return above $65.00.

Today critical level to watch:

Support: $60.00

Resistance: $65.00, $67.20