Gold bounce from $1,680

Gold prices experienced further weakness and closed near the $1,680 support level yesterday. Fortunately, the price showed a bullish reaction from $1,680 and stage a bullish bounce. At the current time, the gold price is trading above $1,700 and might attempt to close above the previous day’s high.

Will gold continue its bullish movement and start a bullish correction toward the $1,780 – $1,800 area?

Today critical levels to watch:

Support: $1,700, $1,680, $1,550, $1,500

Resistance: $1,780, $1,800

Silver maintains the position inside $25.00 – $26.00

Silver price attempted a bullish bounce from the $25.00 handle. However, the bullish pressure lost momentum and the price closed lower yesterday. There is another bullish attempt today but no movement outside of the $25.00 – $26.00 area yet. Traders will continue waiting for a breakout before deciding the next long-term direction of the silver price.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

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

Crude oil stay above $65.00

There was a bullish attempt in crude oil prices toward $67.20. However, the price gets rejected from the resistance level and closed the day lower. Crude oil prices are expected to continue its bullish movement and target the $70.00 handle. Traders will continue to avoid short positions for now until a lower low is printed on the chart.

Today critical level to watch:

Support: $65.00, $60.00, $57.60

Resistance: $67.20, $70.00