Gold set to test $1,680 – $1,700

Gold prices experienced another bearish close yesterday and the price has moved below previous week’s low today. It seems the price will reach $1,680 – $1,700 area soon and test it. If the price could not maintain the level above the area then traders will expect a bearish continuation with $1,500 – $1,550 as the target.

Today critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver waiting for a reaction

The bearish pressure on silver price has brought the price down to $26.00. At the current time, traders will wait for a reaction from the support level. If the silver price could not maintain the level above the $25.00 – $26.00 area then the medium-long-term trend might change from bullish to bearish. On the other hand, if the price could stay above $26.00 and make a strong bullish reaction then long positions from $25.00 – $26.00 are still favored.

Today Critical levels to watch:

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

Resistance: $27.00, $30.00, $31.50

Crude oil testing the $60.00 handle

Crude oil price continues its bearish correction after a new higher high. The price has reached the $60.00 handle and will wait for a reaction. There is trendline support below the level to watch too. Traders could use both levels to enter long positions with $65.00 or $70.00 as targets.

Today critical level to watch:

Support: $60.00, $57.60

Resistance: $65.00, $70.00