Gold holding out against bearish pressure

Gold prices stopped moving lower and printed a bullish close yesterday. The price currently attempting to extend the bullish movement today. We might see the price continue trading sideways nearing the fed FOMC meeting this week. On the upside, the price needs to close above $1,700 to continue the bullish trend. On the lower side, a close below $1,580 is a major bearish confirmation.

Today’s critical levels to watch:

Support: $1,600, $1,585

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

Silver retesting $20.00?

The upward pressure on silver prices managed to bring the price up to test $20.00 resistance level yesterday. The price needs to close above $20.00 to confirm a bullish continuation toward $21.35. Currently, the price might continue trading between $18.50 – $20.00 and traders will continue to monitoring the price movement inside the range.

Today’s Critical levels to watch:

Support: $18.50, $17.73

Resistance: $20.00, $21.35

Crude oil no breakout from $85.00 – $90.00 yet

Crude oil price consolidation is expected to continue between the $85.00 – $90.00 handle. There is no breakout and close outside of the range which means traders could continue to use the range to apply range trading strategies. A breakout and close outside of the range will confirm the next medium-term direction.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25