Gold closed above $1,700

The upward movement of gold prices managed to print a close above the $1,680 – $1,700 area. It seems the price will continue the upward movement to target the $1,780 – $1,800 area next. Despite the bullish setup, the price has not printed a higher high on the chart which means the bullish trend has not been confirmed yet.

If the price start moving lower again and close below $1,680 then the trend could turn bearish again.

Today’s critical levels to watch:

Support: $1,600, $1,585

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

Silver stick near $21.35

Silver prices closed near the $21.35 resistance level. The bullish movement might continue and print a close above the resistance level. Traders will wait for a close above $21.35 to confirm a bullish continuation. Meanwhile, if the price starts a bearish movement then $20.00 is the level to watch for bullish reactions.

Today’s Critical levels to watch:

Support: $20.00, $18.50, $17.73

Resistance: $21.35

Crude oil closed below $90.00

Crude oil prices situation is uncertain once again as the price close below the $90.00 handle. The price might continue trading sideway near the current level and traders will wait for a close either below $85.00 or above $95.25 to confirm the next direction. We still favor the bearish scenario more than the bullish one as no higher high printed on the chart yet.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25