Gold waiting for a trigger to move

There was a bearish close yesterday after the gold price attempted to continue its bullish movement. Initially, the bearish pressure managed to move below Wednesday’s low. However, the price recover part of its losses and closed inside the Wednesday range.

Today, the gold price seems to wait for a trigger to move. The price trading with low volatility near the opening level.

Today critical levels to watch:

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

Resistance: $1,780, $1,800

Silver further consolidation near $26.00

No breakout from the orange box area yet. Silver prices continue trading sideways near the $26.00 resistance level. As long as the price stays inside the $25.00 – $26.00 area then traders will continue to apply ranging strategies, waiting for a breakout from the range.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

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

Crude oil major bearish pullback

Crude oil made a major bearish pullback from $65.00. The downward momentum is stronger than expected as the price closed below $60.00. At the current time, the price attempting to maintain the level near $60.00. If crude oil could close the week above $60.00 then there is a chance for a bullish bounce next week.

Today critical level to watch:

Support: $60.00, $57.60

Resistance: $65.00, $67.20, $70.00