Gold trapped between $1,780 – $1,800

The consolidation of gold prices between $1,780 – $1,800 has not concluded yet. The price will continue trading inside the range and waiting for a breakout for now. Traders are waiting for tomorrow’s FOMC meeting which might trigger major volatility in the market. A breakout is imminent but which direction gold prices will break out to?

Today critical levels to watch:

Support: $1,800, $1,780, $1,700, $1,680

Resistance: $1,850

Silver reenter yellow box area

Silver prices experience bearish pressure today and the price falls below the previous day’s low. The price has entered the yellow box area again and might start a consolidation inside the area. Tomorrow the Fed FOMC meeting announcement should provide more clues on the price next direction.

Today Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil trade between $82.72 – $85.00

We have another bullish close in crude oil prices yesterday. The price is trading upward but limited between $82.72 – $85.00 area. The consolidation inside the area seems will continue and a breakout is imminent. If the price trade lowers then traders could use the $77.13 level to add long positions. On the other hand, a breakout and close above $85.00 will confirm a bullish continuation.

Today critical level to watch:

Support: $82.72, $77.13

Resistance: $85.00, $90.00