Gold on the path toward $1,680 – $1,700

A bearish breakout below $1,780 – $1,800 happened last week. Gold prices fell with strong bearish momentum and almost reach the $1,700 support level. This week, the precious metal attempt to recoup part of its losses. However, the price seems will continue its bearish movement and test the $1,680 – $1,700 support area. If a bearish breakout happens then traders will prepare for a deeper bearish correction toward $1,500 – $1,550.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850, $1,900

Silver retesting $26.00

The price of silver fell with moderate bearish momentum and retesting the $26.00 support level again. No breakout yet which means the silver could maintain its bullish trend above the $25.00 – $26.00 area. However, if the price start moving lower and close below $25.00 then traders will prepare for the start of a new bearish trend toward $20.00.

Today Critical levels to watch:

Support: $27.00, $26.00, $25.00, $21.35, $20.00

Resistance: $30.00, $31.50

Crude oil no change to the bullish trend

Last week, crude oil printed a bearish close at the end of the week. It might be the initial sign of a bearish correction after a prolonged bullish trend. No change yet to the current bullish trend. Crude oil prices might continue climbing toward $65.00 and then $70.00 next.

Today critical level to watch:

Support: $60.00, $57.60

Resistance: $65.00, $70.00