Gold waiting for development

The overall direction of gold prices is bearish but the price currently hanging at the middle of $1,680 – $1,800 area. Traders will continue waiting for the price to reach $1,780 – $1,800 or $1,680 -$1,700 area. If the price closed above $1,800 then we will see bullish continuation toward daily SMA 200.

Today’s critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver hanging near $18.50

There is no major bullish continuation yet from the $18.50 support level. Silver prices continue trading near the level and will wait for further reactions. If the price continues moving upward then it needs to close above $20.00 and $21.35 respectively to confirm a bullish reversal. Otherwise, the price will continue the bearish trend.

Today’s Critical levels to watch:

Support: $18.50, $16.00

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

Crude oil closed near $95.25

The upward pressure on crude oil prices managed to print a close near $95.25. If the price could continue to build bullish pressure and close above $95.25 then the bullish movement could continue toward $100.00 and $106.00. On the other hand, bearish rejection from $95.25 will confirm a ranging movement between $85.00 – $95.25.

Today’s critical level to watch:

Support: $90.00, $85.00

Resistance: $95.25, $100.00