Gold continue testing $1,780 – $1,800

The bullish pressure of gold prices has broken the $1,780 resistance level last week. It climbed toward $1,800 but eventually reversed the movement direction. At the end of the previous week, gold prices settled below $1,780. We think the bullish pressure will continue and gold prices eventually break out above $1,800. However, traders might want to prepare for the worst-case scenario if the price closes below $1,780 with strong bearish momentum.

Today critical levels to watch:

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

Resistance: $1,780, $1,800

Silver holding out near $26.00

Last week, the silver price managed to climb above $26.00 and closed above it. However, at the end of the week, the price retraced and closed near the $26.00 level. This week, the price will attempt to maintain its position above the $26.00 handle and continue its bullish movement. Traders could use the moment to accumulate more long positions near $26.00.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

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

Crude oil ranging movement

We think the price will continue its upward movement toward $65.00 then $70.00. However, crude oil seems trading sideways at the current level and slowly moving toward $60.00. Traders could use the trendline and the $60.00 as levels to add more long positions.

Today critical level to watch:

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

Resistance: $65.00, $67.20, $70.00