Gold moving sideline

Gold prices mostly sideways this week as the closing level is not far from the opening level. Similar to the previous analysis, there is a chance for gold to continue upward and target $1,780. However, at the current time, the price seems to range between $1,680 – $1,750.

Today critical levels to watch:

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

Resistance: $1,750, $1780

Silver limited below $17.50 – $17.73 area

No close inside the $17.50 – $17.73 area and silver continue limited below the area. It seems the bull has trouble bringing the price further higher. If the consolidation continues for a little longer then it is possible silver might turn lower and target a close below $16.80 to confirm the change to a bearish trend.

Today Critical levels to watch:

Support: $17.00, $16.80

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

Crude oil waiting for a reaction from $38.50

The test on the $38.50 provides traders no with no reaction yet. Crude oil prices might continue stick near the level for now. If the price continue upward then the level around $40.00 will become the target. It is possible the price could not print higher high above the previous week high and start moving lower toward $30.00 – $33.00.

Today critical level to watch:

Support: $33.00, $30.00

Resistance:  $40.00