Gold continue trading between $1,780 – $1,800

The bearish pressure on gold prices pushed the price down below $1,780. It is not a significant bearish close which means the price will continue trading sideline inside the $1,780 – $1,800 range. Traders will continue waiting for the price to trade outside of the range for the next direction confirmation.

Today critical levels to watch:

Support: $1,780, $1,700, $1,680

Resistance: $1,800

Silver more bearish close

No bullish reaction yet in silver prices which already close lower for the third day. The price continues its bearish pressure today and testing the previous day’s low. Traders will let the price continue its downward movement and reach $21.35 before considering entering long positions. On the upside, the price needs a close above $26.00 to confirm a long-term bullish reversal.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil on the path toward $60.00?

The bearish breakout below $65.00 is confirmation that the price will resume its bearish trend. Yesterday, the price continues its bearish close and it is expected to target $60.00 in the medium-term. Traders could use the $65.00 handle as a level to place short positions.

Today critical level to watch:

Support: $60.00

Resistance: $65.00, $67.20