Gold consolidating near $1,780 – $1,800

Gold prices are currently trading near the $1,780 – $1,800 support area. Last week, the price formed a bullish pin bar pattern which might indicate a bounce. However, the price is slightly lower today and might retest the support area. If the price continues moving lower and breakout below $1,780 then the bearish trend is set to continue.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850, $1,900, $1,953

Silver closed below $20.00

A close below $20.00 is a bearish confirmation for silver prices. The price might consolidate near the $20.00 level and waiting for further reaction. There is no reason to enter long positions, traders will wait for a bullish correction to enter short positions near resistance levels.

Today’s Critical levels to watch:

Support: $20.00

Resistance: $21.35, $23.00, $23.90

Crude oil holding out above $106.00

The test on the $106.00 support level resulted in a bullish reaction last week. At the current time, crude oil prices attempting to move above Friday’s high. If the price could build more bullish momentum then the bullish trend will continue. On the other hand, a bearish close below $100.00 will start a new bearish leg toward $95.25.

Today’s critical level to watch:

Support: $100.00, $95.25, $90.00

Resistance: $106.00, $130.00