Gold settled near $1,780

Gold prices managed to secure the close inside $1,780 – $1,800 and last week it closed near the $1,780 level. This week, the price is expected to consolidate between the $1,780 – $1,800 area. If the price could continue its bullish movement and close above the daily SMA 200 then there is a chance for bullish continuation.

On the other hand, if gold prices fall from $1,780 with strong bearish momentum then the bearish trend will continue to test the $1,680 – $1,700 area.

Today critical levels to watch:

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

Resistance: $1,800

Silver further bearish pressure toward $21.35?

Last week, silver prices experienced bearish pressure and made four days consecutive bearish closes. The price might continue its downward movement and target the $21.35 support level. Under the current situation, traders will avoid long positions until the price reaches the support level and form a major bullish reaction.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil continues lower toward $60.00?

Crude oil prices fell below the $70.00 handle and printed lower low. The price has strong bearish momentum and might reach the $60.00 support level next. If the price makes a bullish recovery toward $70.00 then traders could consider short positions.

Today critical level to watch:

Support: $60.00

Resistance: $65.00, $67.20