Gold more consolidation between $1,780 – $1,800

Gold prices have not left the $1,780 – $1,800 area yet as the consolidation continues for now. This week, traders will continue to monitor the price movement between $1,780 – $1,800 while waiting for a breakout. On the upside, the daily SMA 200 also seems to limit the upward movement. A close above it will confirm further upside.

Today critical levels to watch:

Support: $1,780

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

Silver on the path toward $21.35

Silver prices continue under pressure last week and formed a lower low. The price might continue moving lower and reach the $21.35 support level. If the price reached the level and formed a bullish reaction then traders could enter long positions with the expectation that a new bullish trend formed.

Today Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil resume bullish movement above $70.00

A breakout and close above $70.00 has happened and crude oil prices also made retests on the $70.00 handle. We could see the price trading upward from the $70.00 and will attempt to move above the previous week’s high. On the upside, $77.13 is the bullish target and the level needs to be broken to cancel the previous major bearish candlestick.

Today critical level to watch:

Support: $70.00, $67.20, $65.00

Resistance: $71.22, $77.13