Gold hovering below $1,780

Not much reaction yet in gold prices after it managed to reach $1,780 resistance level. The price made bullish close yesterday and canceled the bearish pin bar pattern. At the current time, it seems the price will continue to trade near $1,780 and aiming to retest it again soon.

Traders might want to avoid taking short positions as the coronavirus cases continue to increase as of now.

Today critical levels to watch:

Support: $1,750, $1,700

Resistance: $1780, $1,800

Silver continues to trade sideline near $17.50 – $17.73

We have a bullish close yesterday and once again it is near the $17.50 – $17.73 area. Silver prices expected to continue its movement near the $17.50 – $17.73 area. Traders could see a triangle pattern on the daily chart too. As long as the price stays inside the triangle, traders could continue to apply ranging strategies.

Today Critical levels to watch:

Support: $17.50, $17.00, $16.80

Resistance: $17.73, $18.00, $18.50

Crude oil closed above $38.50.

The bearish progress in crude oil prices seems halted after the previous day bullish close. A close above $38.50 is a sign that the bull has not finished yet with the bullish movement. Without a close below the candlestick low, crude oil may continue higher and target the $40.00 resistance level again.

Today critical level to watch:

Support: $33.00, $30.00

Resistance:  $40.00