Gold bounced from $1,700

Gold price experienced bearish pressure last week and fell toward the $1,700 support level. The price managed to bounce from the $1,700 support level and closed the Friday trading session as a bullish pin bar. This week, the price is expected to continue moving upward and a breakout above the pattern. At the current time, there is no breakout yet and the price continues trading near the high.

Today critical levels to watch:

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

Resistance: $1,780, $1,800

Silver testing $26.00

There is no breakout in silver price yet which consolidates inside the $25.00 – $26.00 range. The price will continue testing the top of the range and looking for a breakout. Traders will continue to observe the price movement inside the range of $25.00 – $26.00 while waiting for a breakout.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

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

Crude oil hanging near the high

The price of crude oil continues to maintain the bullish pressure and stay above the $65.00 handle. As long as there is no major bearish reaction and close below $65.00 then the price is set to continue its bullish movement toward $70.00. Traders might want to avoid shorting crude oil at least until a lower low and a lower high are printed on the chart.

Today critical level to watch:

Support: $65.00, $60.00, $57.60

Resistance: $67.20, $70.00