Gold rejection from $1,780 – $1,800

Gold prices closed near the $1,780 – $1,800 area and the daily SMA 200. The price experience bearish rejection from the resistance levels today after the release of U.S job data. If the price continues moving lower and closes below $1,780 then there is a chance of a bearish continuation. Traders will stay cautious and observe the price reactions near the resistance level.

Today’s critical levels to watch:

Support: $1,700, $1,680, $1,600, $1,585

Resistance: $1,780, $1,800

Silver bearish correction?

The bullish movement toward $23.00 and $23.90 is in progress. Silver prices will soon reach the resistance levels and test it. However, the price is currently under bearish pressure and might start a bearish correction. Traders will wait near the support level for a chance to enter long positions. On the lower side, $21.35 is the nearest support level to watch.

Today’s Critical levels to watch:

Support: $21.35, $20.00, $18.50, $17.73

Resistance: $23.00, $23.90

Crude oil slowly moving upward

Crude oil prices attempting to continue the bullish movement from the $77.13 support level. There is no major bearish reaction but the price upward movement has not had strong bullish momentum. If the price trade lower again the traders will wait near the $77.13 support level. A major bearish close below the level will confirm a bearish continuation.

Today’s critical level to watch:

Support: $77.13, $70.00

Resistance: $80.00, $85.00, $90.00, $95.25