Gold more test on $1,780 – $1,800

U.S inflation cools in the latest report which brought optimism to the market. Despite the situation, gold prices reverse the bullish gain and closed lower yesterday. At the current time, the price is under bearish pressure and will test the $1,780 level. Traders will observe the price reaction inside the $1,780 – $1,800 area. If the price moves lower with strong bearish momentum then traders will prepare for a bearish continuation to retest $1,680 – $1,700 area.

Today’s critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver maintains the level above $20.00

Silver prices have claimed the $20.00 handle and are expected to continue the upward movement to target $21.35. If the price restarts the bearish movement and closed below $20.00 then traders will expect a bearish continuation to target the $185.0 support level. On the upside, a close above $21.35 is major bullish confirmation.

Today’s Critical levels to watch:

Support: $20.00, $18.50, $16.00

Resistance: $21.35, $23.00, $23.90

Crude oil closed above $90.00

The bearish pressure on crude oil prices seems subsided as the price made a bullish close above $90.00. The bullish close happened after a major bearish movement. We could see this as a bullish reversal which brings crude oil prices up to a retest the $95.25. A close above $95.25 might confirm further upside to the target $106.00.

Today’s critical level to watch:

Support: $90.00, $85.00

Resistance: $95.25, $100.00, $106.00