Gold consolidation inside $1,780 – $1,800

The consolidation of gold prices inside the $1,780 – $1,800 will continue. No breakout from the range yet which mean traders will continue waiting on the sideline for now. If the price show major bearish rejection from the area then traders could enter short positions. On the other hand, a close above $1,800 with strong bullish momentum is a bullish sign.

Today’s critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver retest $20.00?

Silver prices maintain their positions above the $20.00 handle but slowly losing upward pressure. The price looks slightly lower and might retest the $20.00 handle soon. Traders will observe the price reactions from the level. If the price could bounce with strong bullish momentum then traders will prepare for a continuation toward $21.35.

On the other hand, a close below $20.00 might indicate a bearish continuation toward $18.50.

Today’s Critical levels to watch:

Support: $20.00, $18.50, $16.00

Resistance: $21.35, $23.00, $23.90

Crude oil set to test $95.25

Crude oil prices continue building bullish pressure after the bounce from the $90.00 handle. The price is getting near the $95.25 resistance level and soon will test it. A close above $95.25 is a bullish confirmation toward the $100.00 – $106.00 area. On the other hand, a bearish rejection close near $95.25 might indicate a bearish continuation to target the level below $90.00.

Today’s critical level to watch:

Support: $90.00, $85.00

Resistance: $95.25, $100.00, $106.00