Gold return to $1,780 – $1,800 area

The bearish pressure on gold prices could not put the price to close below $1,780 at the end of the week. Last week, gold prices managed to stage recovery and close the week inside $1,780 – $1,800 area. This week, the price is expected to add more bullish pressure and resume its long-term bullish trend.

Today critical levels to watch:

Support: $1,780, $1,700, $1,680

Resistance: $1,800, $1,850, $1,900

Silver bounced from $26.00

Silver price finally stages a bullish bounce from the $26.00 support level. The price is expected to resume its bullish trend and target $30.00, $31.50 resistance levels. At the current time, traders who have entered long positions near the $25.00 – $26.00 area could continue to hold the positions.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35, $20.00

Resistance: $27.00, $29.00, $30.00, $31.50

Crude oil soon will reach $77.13

There is no major bearish reaction on crude oil prices. The price continues its upward movement and soon will reach the $77.13 resistance level. Traders will continue to hold long positions and avoid taking short positions. If the price makes a bearish correction then $70.00 is the level to watch.

Today critical level to watch:

Support: $70.00, $67.20

Resistance: $77.13