Gold slowly moving upward

Gold price bounced from the $1,680 – $1,700 area and slowly moving upward. The price closed the week in the middle of $1,680 – $1,800. If the price continues its upward movement then traders will expect a test on the $1,780 – $1,800 area. Short positions could be taken from the area when there is a major bearish reaction.

Today critical levels to watch:

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

Resistance: $1,780, $1,800

Silver stick near $26.00

The price of silver continues its sideways movement near the top of the $25.00 – $26.00 area. There is no major breakout or rejection from the $26.00 resistance level yet. This week, the silver price might continue its sideways movement near the top of range while waiting for a reaction.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

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

Crude oil further weakness below $60.00

There was a major bearish rejection from the $65.00 resistance level. The crude oil prices moved lower from $65.00 toward $60.00 in one day. On the Friday trading session, crude oil prices attempted to move upward and close above $60.00. However, the price reversed and closed below $60.00 at the end of the week.

This week, traders will expect further weakness and the possibility for crude oil to continue lower to target $54.50 – $55.80.

Today critical level to watch:

Support: $57.60, $55.80, $54.50

Resistance: $60.00, $65.00, $67.20, $70.00