Gold bounced from the level near $1,700

Gold prices came under pressure in the Monday trading session. However, the bearish pressure recedes before the end of the day. Gold managed to bounce from the level near $1,700 and closed near the opening level. Today, we could see a bullish pressure. If the price could continue higher above the previous day high and close above it then gold expected to extend its bullish movement toward $1,780.

Today critical levels to watch:

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

Resistance: $1,750, $1780

Silver bounced from the level near $16.80

Silver pushed lower and tested the level near $16.80.  It managed to bounce from the support level but might continue to stick near the $17.50 – $17.73 area. Traders will continue to monitor the price movement near the area for now. If the bull could push the price above the area then we will expect silver to target $18.50.

Today Critical levels to watch:

Support: $17.00, $16.80

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

Crude oil reversed the bearish pressure

On Monday, crude oil prices are on a bearish pressure the entire day until we enter the U.S trading session. The price start gaining and closed above Friday high. It is a bullish indication and crude oil might continue its bullish movement to target the gap level around $40.00.

Today critical level to watch:

Support: $33.00, $30.00

Resistance:  $40.00