Gold continues trading sideway near $1,750

There is no major development yet in gold prices. The price continues trading sideways up and down near the $1,750 level. We still think the price could continue its bullish movement and target the $1,780 – $1,800 resistance level. Meanwhile, traders will continue to hold long positions for now.

Today critical levels to watch:

Support: $1,700, $1,680, $1,550, $1,500

Resistance: $1,780, $1,800

Silver trading sideways

Silver prices have reclaimed the $25.00 – $26.00 area. No major bullish movement yet and the price seems to consolidate inside the range. Traders will continue to monitor the price movement inside the range. If the price makes a bearish close below $25.00 with strong momentum then silver might resume the bearish trend.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

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

Crude oil jump from $60.00

Crude oil price finally makes a major bullish momentum and jump from $60.00 handle. The price is expected to continue moving upward and reach the $65.00 resistance level then $70.00. Traders who has accumulate long positions near $60.00 could continue to hold it now.

Today critical level to watch:

Support: $60.00, $57.60, $55.80, $54.50

Resistance: $65.00, $67.20, $70.00