Gold resume bearish movement toward $1,680 – $1,700

The bearish trend of gold prices continue after the rejection from $1,780 – $1,800 area. There is no bullish reaction, meaning the current movement can potentially target the $1,680 – $1,700 area. Traders might want to wait near the support area for bullish reactions. As long as there is no lower low printed then traders could enter long positions.

Today’s critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver set to retest $18.50

Silver prices direction has been bearish since the close below $20.00. Traders will wait for reactions near the support level for a chance to enter long positions. However, the current bearish pressure might persist as traders await the Fed interest-rate decision in September. Without a higher low then it is better to delay entering long positions.

Today’s Critical levels to watch:

Support: $20.00, $18.50, $16.00

Resistance: $21.35, $23.00, $23.90

Crude oil testing $90.00

Crude oil prices moving down with a new lower low and lower high. The prices currently trading upward to test the $90.00 resistance level. If the price continues the bearish trend then traders will expect another test on the $85.00 support level. A close above $95.25 might trigger a trend reversal and bring the price back to its bullish trend.

Today’s critical level to watch:

Support: $85.00

Resistance: $90.00, $95.25, $100.00