Gold holding out near $1,700

The breakout below $1,700 ended in a close above $1,700 yesterday. Gold maintained the support level and currently stick above it. If the price could bounce from the level then we will expect gold to continue upward and target $1,780.

However, if the bearish pressure happens again and gold prices fall below $1,680 then the trend might switch to bearish.

Today critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,750, $1,780

Silver capped at $15.20

Silver prices continue capped below $15.20 without a sign of bullish momentum. Traders will expect the price to continue its consolidation near the resistance level for now. $14.80 and $14.40 are the levels to watch. Without any close above $15.20 then silver will trade inside $!4.40 – $15.20.

Today Critical levels to watch:

Support: $14.80, $14.40

Resistance: $15.00, $15.20, $15.60

Crude oil bounced from the level near $10.00

Crude oil prices bounced from the level near $10.00 and currently traded at $14.25. The price might continue its upward movement and reach $15.00. On the upside, traders will observe $16.00 handle where the price might get rejected again. If the price could surpass $16.00 then we will expect crude oil to target $20.00 handle.

Today critical level to watch:

Support: $10.00, $0

Resistance: $16.00, $20.00