Gold hanging in the middle of the range

Gold prices trading slightly lower today but maintain the position in the middle of the $1,680 – $1,700 and $1,780 – $1,800 range. Traders are awaiting the release of PCE data today and Jerome Powell’s speech in Jackson Hole. Traders will wait near $1,680 – $1,700 and $1,780 – $1,800 area for reactions to determine the next direction.

Today’s critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver trading near $18.50

Silver prices trading upward but maintaining the level not far from $18.50. The price movement might continue sideways and will wait for the events today. If the price continues moving upward then it will test $20.00. A close above $21.35 is needed to confirm a bullish reversal. On the lower side, a close below $18.50 might become the indication of a bearish continuation.

Today’s Critical levels to watch:

Support: $18.50, $16.00

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

Crude oil rejection from $95.25

Crude oil prices got rejected from the $95.25 resistance level and printed a bearish close yesterday. Despite the situation, the price might continue to stick near the resistance level and attempt to close above it. A close above $95.25 is bullish confirmation toward $100.00 and $106.00.

On the other hand, further weakness from the current level will confirm consolidation between $85.00 – $95.25.

Today’s critical level to watch:

Support: $90.00, $85.00

Resistance: $95.25, $100.00