Gold consolidation near $1,800

There is no major change in the gold price movement yet. The price continues to stick near the $1,800 level and expected to continue consolidation for now. Yesterday, there is bearish pressure but at the end of the day, gold close on the positive side. It is better to continue monitoring the price reaction at the current level before entering positions.

Today critical levels to watch:

Support: $1,800, $1780, $1,750

Resistance: $1,850

Silver more bullish pressure

Silver continues moving upward and made a higher bullish close. However, the bullish close is inside the Monday range. No breakout above the Monday high yet but we think silver will target $20.00 resistance and reach it. Traders will avoid taking short positions for now. Long positions could be taken near the $18.50 support level.

Today Critical levels to watch:

Support: $18.50, $18.00, $17.73

Resistance: $20.00

Crude oil more consolidation between $38.50 – $40.00

Crude oil continue trading sideways near the $38.50 – $40.00 without a clue in the next direction yet. We will continue to monitor the price reaction at the current level and waiting for momentum movement away from $38.50 – $40.00 area.

Today critical level to watch:

Support: $38.50

Resistance: $40.00, $50.00