Gold closed near $1,680 resistance

We have healthy bullish pressure which brought gold prices to close near $1,680 resistance. This week, the price might extend its bullish movement and target the $1,700 resistance. Traders will observe the precious metal reaction near the resistance level for now. If there are major bearish reactions then traders could enter short positions with a stop above $1,700

Today critical levels to watch:

Support: $1,600, $1,585, $1,550

Resistance: $1,680, $1,700

Silver closed above $15.20

Silver prices managed to close above $15.00 – $15.20 after several days consolidation near the resistance area. The price might continue its upward movement this week and extend its bullish close. On the upside, $16.00 is the resistance level which will become the target.

Today Critical levels to watch:

Support: $15.20, $15.00, $14.40

Resistance: $15.60, $16.00

Crude oil bearish engulfing pattern

Crude oil printed a bearish engulfing pattern at the end of the week. It indicates a bearish movement this week toward $20.00. No change to the movement range which spans between $20.00 – $28.74. Traders could use the moment to wait for the price to reach $20.00 and enter long positions.

Today critical level to watch:

Support: $20.00

Resistance: $25.00, $28.74, $30.00