Gold waiting for a reaction from $1,780

Gold prices managed to close above the $1,780 resistance yesterday. However, there is no major bullish momentum seen yet. The price might continue trading sideways near the $1,780 resistance level. Traders will continue waiting for a reaction near the $1,780 resistance. We think the price could continue its bullish movement above $1,780 and target the $1,800 resistance level.

Today critical levels to watch:

Support: $1,750, $1,700

Resistance: $1780, $1,800

Silver targetting $18.50 resistance

The upward movement of silver started from the $17.73 support level and soon will reach the $18.50 resistance level. We think the bullish pressure will continue to add up and target the level above $18.50. At the current time, the silver range of movement span between $17.73 – $18.50, and traders will wait for the breakout of the range.

Today Critical levels to watch:

Support: $18.00, $17.73, $17.50

Resistance: $18.50, $20.00

Crude oil hovering near $40.00

No major reaction from the $40.00 resistance level yet in crude oil. The price continues to trade sideways at the moment. Similar to the previous day analysis, traders might want to wait for further reaction from the resistance level before placing any positions.

Today critical level to watch:

Support: $38.50, $35.00, $34.36

Resistance:  $40.00