Gold waiting for further reaction

Gold prices have returned inside the yellow box area and currently resuming its consolidation. The price is expected to waiting the release of U.S inflation data inside the box area. Traders will wait for the market reaction after the release of the news.

We still think the price will continue its bullish trend toward $2,000. However, traders will be careful on possible bearish correction again toward the daily SMA 200 and $1,850.

Today critical levels to watch:

Support: $1,850, $1,800, $1,780

Resistance: $1,900, $1,950, $2,000

Silver stick near $27.50

The bearish pressure on silver prices managed to break below $27.50. Fortunately, the price could return and close above $27.50 at the end of the previous week. At the current time, the price will wait near $27.50 as the market waiting for U.S inflation data released this week.

Traders will wait for a reaction from $27.50. If a bearish correction happens then traders could use the $25.00 – $26.00 area for a chance to enter long positions.

Today Critical levels to watch:

Support: $27.00, $26.00, $25.00, $21.35, $20.00

Resistance: $29.00, $30.00, $31.50

Crude oil breakout above $70.00?

The bullish pressure on crude oil prices continues today as the price avoided bearish close yesterday. It seems the resistance level will be broken today and crude oil will continue its bullish movement to the next resistance level. On the upside, $77.13 is the resistance level to watch.

Today critical level to watch:

Support: $67.20, $65.00, $60.00

Resistance: $70.00, $77.13