Gold continues consolidation near $1,800

The price of gold experienced bearish pressure on the previous trading day. The price fell and close below $1,800 handle. However, the bearish pressure reversed today and the price has returned above $1,800. Will gold maintain the positions above $1,800 handle until the end of the week?

If gold moves further lower toward $1,780 then traders could consider entering long positions.

Today critical levels to watch:

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

Resistance: $1,850

Silver attempting to move further higher

Yesterday, silver closed lower and there is bearish follow-through in today’s trading session. However, the bearish pressure neutralized and currently silver traded near its opening level. If silver could add more bullish pressure and close on the positive side today then traders will expect the price to continue upward and reach $20.00 next week.

Today Critical levels to watch:

Support: $18.50, $18.00, $17.73

Resistance: $20.00

Crude oil no strong momentum

Crude oil continues moving sideline for now and not far from $38.50 – $40.00. No momentum movement produced yet which means traders will continue to observe the price reaction for now. Today, European leaders are meeting to decide on coronavirus stimulus. Major policies might be reached at the end of the week which might trigger strong volatility at the beginning of the week.

Today critical level to watch:

Support: $38.50

Resistance: $40.00, $50.00