Gold closed near $1,700 handle

Gold direction continue pointed to the upside after the previous week breakout above $1,700. However, the price settled near $1,700 by the end of the week and will wait for retest this week. If gold returns inside $1,680 – $1,700 this week then the precious metal will continue its consolidation near the level.

Traders will wait for further reaction near the current level and take the chance to enter long positions with a stop below the previous week’s low.

Today critical levels to watch:

Support: $1,700, $1,680, $1,650, $1,600

Resistance: $1,750, $1780

Silver ready to test $15.60 again

Silver bounced from $14.80 and closed above $15.20. Last week, the price tested the $15.60 resistance without a breakout above the level. This week, the price expected to continue its upward movement and test the $15.60 resistance level. As long as there is no breakout and close above $15.60, silver expected to continue trading inside $14.80 – $15.60

Today Critical levels to watch:

Support: $15.20, $15.00, $14.80, $14.40

Resistance: $15.60

Crude oil on the path higher

The bullish correction of crude oil prices has surpassed $20.00 handle and tested $25.00 resistance last week. It is possible the price could continue its upward movement and target $29.00 – $30.00 resistance level. When the price traded lower toward $20.00 support level then traders will look for the chance to enter long positions.

Today critical level to watch:

Support: $22.00, $20.00

Resistance: $25.00, $30.00