Gold holding ground after resistance rejection

No major bearish follow-through by the bear yet since the rejection from the level near $1,680. Gold prices might consolidate at the current level and attempt to continue its upward movement. At the current time, traders will wait for further reaction near $1,680 – $1,700 resistance area.

Today critical levels to watch:

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

Resistance: $1,680, $1,700

Silver stuck near $15.00 – $15.20

Silver continues made close below $15.00 resistance level. The price might be able to climb above the resistance level but at the end of the day the bullish pressure recedes and the price moves back below $15.00. Silver might continue to consolidate near $15.00 – $15.20 for now and waiting for further reaction.

Today Critical levels to watch:

Support: $15.00, $14.40, $14.00

Resistance: $15.20

Crude oil waiting for OPEC

Crude oil closed the day on the positive side yesterday. It seems the market is optimistic that OPEC will reach a production cut deal with allies today. If the production deal reached then crude oil might be able to climb toward $30.00 resistance level.

Today critical level to watch:

Support: $25.00, $20.00

Resistance: $28.74, $30.00