Gold consolidating inside the triangle pattern

The movement of gold prices was mostly bearish after the rejection from the $1,780 – $1,800 area. The pair printed a new low today but managed to recover near its opening level. We might see gold prices continue consolidation inside the triangle area as shown on the chart. Traders will wait for a breakout of the triangle range and the $1,680 – $1,800 area before placing major positions.

Today’s critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver testing $18.50

The bearish pressure on silver prices continues today and the price managed to reach $18.50 support level. There is a bullish reaction from the level which brings silver prices back to its opening level. If the price could maintain the position and build more bullish pressure then there is a chance of upward movement to retest $20.00 and $21.35.

The pair needs to close above $21.35 to reverse the current bearish trend.

Today’s Critical levels to watch:

Support: $18.50, $16.00

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

Crude oil climbed above $95.25

Crude oil prices might have returned to its bullish track as the price climbed above $95.25. If the bull could continue to maintain bullish pressure and close the day above $95.25 then we might see a bullish continuation in the coming day. On the upside, $100.00 and $106.00 are the bullish targets when the bullish close is confirmed.

Today’s critical level to watch:

Support: $90.00, $85.00

Resistance: $95.25, $100.00