Gold bounced from $1,700

Another bullish bounce happened in gold prices from the $1,700 handle. However, the bounce momentum looks weak, and currently, the price moves slightly lower. It seems the price might make another test on the $1,680 – $1,700 area.

If the price closes below $1,680 then traders have strong confirmation that the bearish correction will continue.

Today critical levels to watch:

Support: $1,700, $1,680, $1,650

Resistance: $1,750, $1780

Silver testing $17.50 – $17.73

Silver prices maintained the positions near $17.50 – $17.73 area. No movement outside of the range today yet. At the current time, it is better to wait until the price moves outside of the range before placing positions. We think silver might continue moving upward and retest $18.50.

Today Critical levels to watch:

Support: $17.50, $17.00

Resistance: $17.73, $18.00, $18.50

Crude oil slowly creep higher

No change to the outlook of crude oil yet, the price slowly moving higher and soon will close the price gap around $40.00. Traders who has long positions could continue holding the positions for now. Meanwhile, traders could prepare for short positions when the gap close followed by major bearish reactions.

Today critical level to watch:

Support: $33.00, $30.00

Resistance:  $40.00