Gold testing $1,680 – $1,700

The bearish pressure on gold price has not receded yet. The price falls toward the $1,680 – $1,700 area and currently testing it. The price will attempt to bounce and move toward the $1,780 – $1,800 area again. However, if a bearish breakout happens and gold closes below $1,680 then traders will prepare for further weakness toward $1,500 – $1,550.

Today critical levels to watch:

Support: $1,550, $1,500

Resistance: $1,680, $1,700, $1,780, $1,800

Silver bounce from $25.00

Silver price bearish correction reached $25.00 handle last week. The price showed a bullish reaction and distances itself from the $25.00 handle. At the current time, the silver price will consolidate between $25.00 – $26.00 and waiting for a breakout. Traders will wait for a close outside of $25.00 – $26.00 to determine the next direction.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

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

Crude oil set to reach $70.00

Crude oil bullish pressure has not receded yet, the price continues its upward movement and reaches $67.20 resistance level. If the bull could maintain the bullish pressure then we will see crude oil price hanging near the $70.00 resistance level soon. At the current time, traders will continue avoid short positions.

Today critical level to watch:

Support: $65.00, $60.00, $57.60

Resistance: $67.20, $70.00