Gold rejection from $1,780 – $1,800

Gold prices undergo bearish movement after the rejection from $1,780 – $1,800 area. The price will target the $1,680 – $1,700 area and traders will monitor the reaction. If the price could bounce with strong bullish momentum, traders could enter long positions. A close above the daily SMA 200 will become massive bullish confirmation.

Today’s critical levels to watch:

Support: $1,700, $1,680, $1,600, $1,585

Resistance: $1,780, $1,800

Silver target $20.00

Silver prices closed below $21.35 and there is a bearish continuation this week. The price will target $20.00 handle where traders could enter long positions on bullish reactions. On the upside, $23.00 and $23.90 is the upward targets to watch. If the price continues moving lower and prints a lower low then traders will scrap the bullish scenario.

Today’s Critical levels to watch:

Support: $21.35, $20.00, $18.50, $17.73

Resistance: $23.00, $23.90

Crude oil tested $77.13

The bearish movement of crude oil prices managed to reach the $77.13 support level last week. There are bullish reactions but it is not a long position confirmation. If the price continues moving lower and prints a new lower low then the bearish trend will continue. On the upside, a close above $85.00 might become an initial bullish confirmation.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25