Gold stick near $1,780

The bearish pressure on gold prices seems to have recede as the price continues to stick near the $1,780 support level. At the current time, the price might consolidate between $1,780 – $1,800. However, if the price resumes the bearish pressure and prints a lower low then traders could expect bearish movement toward $1,680 – $1,700.

Today critical levels to watch:

Support: $1,780, $1,700, $1,680

Resistance: $1,800, $1,850, $1,900

Silver setting up floor at $26.00

No bearish continuation in silver prices as the price stick near $26.00. As long as the price could maintain the current level and make a major bullish close above $26.00 then there is a chance for bullish continuation. On the other hand, if the price resumes the bearish pressure then $25.00 is the support level to watch.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

Resistance: $26.00, $27.00, $29.00, $30.00, $31.50

Crude oil neutral close

Crude oil prices made a neutral close near its opening level yesterday. There is no change to the bullish outlook which is expected to reach the $77.13 resistance level. If the price makes a bearish correction toward $70.00 then traders could consider entering long positions.

Today critical level to watch:

Support: $70.00, $67.20

Resistance: $77.13