Gold more test on $1,680 – $1,700 area?

Gold prices settled lower after the breakout below the $1,780 – $1,800 area. Yesterday the price managed to reach $1,680 – $1,700 area and bounce from it. the bearish movement has strong momentum and we might see another test on the $1,680 – $1,700 support area soon.

Traders will monitor the price reaction near the area for now.

Today critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver targeting $21.35?

The breakout from $25.00 – $26.00 put the price of silver under major bearish pressure. It seems the price might continue the downward movement and reach the $21.35 support level. Traders will stay sideline and avoid long positions for now until the price makes recovery and close above $25.00.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

Resistance: $26.00, $27.00, $29.00, $30.00, $31.50

Crude oil bounced from $65.00

The weakness of crude oil prices tested the $65.00 support level yesterday. We have a bullish bounce from the level as the price currently attempting to move above the previous day’s high. If the price could extend bullish movement and close above $70.00 then crude oil prices might resume the bullish trend toward $77.13.

Today critical level to watch:

Support: $67.20, $65.00, $60.00

Resistance: $70.00, $77.13