Gold paused near the swing high

Gold prices experienced bounce from the $1,680 – $1,700 support area and headed to the previous swing high around $1,744. No higher high printed yet which means there is a chance the price could reverse and start moving lower again. If the price could print a higher high above $1,744 then traders will expect gold to continue upward and reach $1,780.

Today critical levels to watch:

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

Resistance: $1,750, $1780

Silver trade near $17.50 – $17.73

The price of silver launched from the $117.50 – $17.73 area but the price received a bearish reaction and closed below $17.50. No conclusion yet on the silver next direction. The price might consolidate near $17.50 – $17.73 area this week. As long as there is no close below $16.80, silver still has a chance to continue its bullish trend.

Today Critical levels to watch:

Support: $17.00, $16.80

Resistance: $17.50, $17.73, $18.00, $18.50

Crude oil mixed reaction

Crude oil prices might be rejected from the $38.50 resistance and continue lower in Friday trading session. However, the price reverse and closed as bullish pin bar pattern at the end of Friday trading session. This week, the price might confirm the pattern and resume its upward movement to target the gap level.

If the price move lower toward $30.00 – $33.00 then traders could prepare to enter long positions.

Today critical level to watch:

Support: $33.00, $30.00

Resistance:  $40.00