Gold bounced from $1,680 – $1,700 area

Gold prices undergo bullish bounce from the $1,680 – $1,700 area and set to target the $1,780 – $1,800 area. Traders will wait for further bullish pressure to bring the price up. Next week, there is an FOMC meeting to watch. The market might stall before the Fed interest-rate announcement. If gold prices get rejected from the $1,780 – $1,800 area then traders will prepare for a bearish continuation.

Today’s critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver holding out above $18.50

Traders will continue monitor silve prices near the $18.50 level. Yesterday, the price formed a bullish pin bar pattern which might lead to a bullish bounce. However, the price show no bullish follow-through today. On the upside, $20.00 and $21.35 will become target levels to watch.

Today’s Critical levels to watch:

Support: $18.50

Resistance: $20.00, $21.35, $23.00, $23.90

Crude oil stick near $95.25

Crude oil prices could not shake the bearish pressure on the $95.25 support level. The price continues to stick near the level and traders will wait for further reaction. If the price breaks out and prints a new lower low, traders will prepare to continue the bearish trend. On the other hand, a bullish bounce from the current level could bring the price upward to retest $106.00.

Today’s critical level to watch:

Support: $95.25, $90.00

Resistance: $100.00, $106.00, $130.00