Gold on the path toward $1,680 – $1,700

The strength in the U.S dollar index brought its counterpart lower. Gold prices are also under bearish pressure, leaving the $1,780 – $1,800 area. At the current time, the price might continue the bearish movement to target the $1,680 – $1,700 area. Traders will wait near the support area for bullish reactions and the formation of a new higher low.

When the bullish reactions formed with a higher low then it is the chance to enter long positions.

Today’s critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver set to test the $18.50

Silver prices continue its bearish movement after the close below $20.00. It is now getting near the $18.50 support level and soon will test it. If the price could bounce from the support level then we might see the formation of a double bottom pattern. Traders could enter long positions when the price could form a double bottom pattern.

Today’s Critical levels to watch:

Support: $18.50, $16.00

Resistance: $20.00, $21.35, $23.00, $23.90

Crude oil closed above $90.00

Crude oil prices were under bearish pressure and trading down toward the $85.00 support level. However, the price managed to recover and closed above the opening level also $90.00 handle yesterday. There is a bullish continuation in today’s trading session which might bring the price further upward to test $95.25.

A close above $95.25 will become a major bullish confirmation.

Today’s critical level to watch:

Support: $90.00, $85.00

Resistance: $95.25, $100.00