Gold bullish reaction from $1,680

Gold prices might be under pressure last week, the price was pressuring the $1,680 but no breakout below it. Yesterday, the price bounced from the support level and closed the day near $1,700. At the current time, gold prices expected to consolidate inside $1,680 – $1,700.

Traders will continue to observe the price reaction inside the current area. A breakout and close below $1,680 is a major trigger for a bearish position. On the other side, a close above $1,700 will help the price to start another bullish leg toward $1,780.

Today critical levels to watch:

Support: $1,680, $1,650

Resistance: $1,700, $1,750, $1780

Silver another close inside $17.50 – 17.73

No bearish continuation after the close below $17.50. Silver prices stage a bullish rally and close inside $17.50 – $17.73 area again. The price currently expected to continue consolidation inside the area while waiting for a breakout. As long as there is no lower low printed below $16.80, silver still has a chance to move higher above $18.50.

Today Critical levels to watch:

Support: $17.50, $17.00, $16.80

Resistance: $17.73, $18.00, $18.50

Crude oil bearish reaction near the gap level

Crude oil finally reaches the gap level and formed a bearish reaction. Although the gap level has not closed yet, crude oil may start a bearish correction. If bearish correction happens then traders will expect the price to move lower and target $30.00 – $33.00 area.

Today critical level to watch:

Support: $33.00, $30.00

Resistance:  $40.00