Gold waiting for further reaction

Gold prices pushed lower and reached the $1,780 – $1,800 area. Last week, the price mostly sideways near the $1,780 level. There is not much movement yet at the beginning of this week. We might see the price continue its consolidation for now. Traders will continue waiting for a further reaction from the $1,780 – $1,800 area.

On the long-term view, we still think gold prices will resume its bullish trend.

Today critical levels to watch:

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

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

Silver ranging near $26.00

The same as gold prices movement, silver prices movement also experienced ranging movement near the $26.00 handle. There is no clue yet on where the price will move next. We think the price will continue its bullish trend either by the bounce from $26.00 or $25.00 support levels.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35, $20.00

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

Crude oil slowly ascending

Since the breakout from the yellow box area, crude oil prices moving upward slowly without major bearish correction. The recent bearish correction happened toward $70.00 and the price managed to bounce from it. Without any major change in the sentiment, crude oil prices could continue its ascent toward the $77.13 resistance level.

Today critical level to watch:

Support: $70.00, $67.20

Resistance: $77.13