Gold adding gain above $1,700

The precious metal might be under pressure but it finally shows a bounce reaction from the $1,680 – $1,700 area. At the current time, the price continues traded inside the previous day high and waiting for more trigger. Traders who have long positions could hold their positions. Meanwhile, it is better to avoid short positions until a major close below $1,680 happens.

Today critical levels to watch:

Support: $1,680, $1,650

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

Silver consolidating near $17.50 – $17.73

Silver prices show no indication of the next direction yet. The price continues to trade near $17.50 – $17.73. It is better to wait and see for now until the major momentum movement formed. On the bullish side, as long as there is no close below $16.80, silver has a chance to extend its long-term bullish trend.

Today Critical levels to watch:

Support: $17.50, $17.00, $16.80

Resistance: $17.73, $18.00, $18.50

Crude oil initial bearish reaction

The bullish correction of crude oil prices almost closes the price gap around $40.00. We have an initial bearish reaction though not a major one. If the price start moving lower then traders could prepare to add long positions near $30.00 and $33.00.

Today critical level to watch:

Support: $33.00, $30.00

Resistance:  $40.00