Gold continue consolidation near $1,780 – $1,800

The bearish pressure on gold prices did not continue yesterday. Gold prices made a bullish close near the $1,780 level and might maintain the consolidation between $1,780 – $1,800. At the current time, traders will continue waiting for a further reaction from the $1,780 – $1,800 area. As long as there is no lower swing low printed on the chart, there is a chance for bullish continuation.

Today critical levels to watch:

Support: $1,780

Resistance: $1,800, $1,850, $1,953, $2,000

Silver more bearish close

The bearish pressure on silver prices has not receded yet. We have another bearish close below the yellow box area and it might confirm continuation toward $21.35. Traders will avoid long positions for now until there is a major bullish reaction. A close above the yellow box area will resume the bullish outlook.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil bearish pressure on $65.00

No bullish close yet on crude oil prices as the price continues moving lower. The price currently testing the $65.00 support level and looking for a breakout below it. If the price could bounce and close above $70.00 then there is a chance of bullish reversal. Meanwhile, it is better to wait for the bearish pressure to recede before entering long positions.

Today critical level to watch:

Support: $65.00

Resistance: $67.20, $70.00, $71.22, $77.13