Gold ranging between $1,680 – $1,800

Gold prices undergo bearish correction after it reached the $1,780 – $1,800 area. However, the price currently trading upward again and will attempt for another test on the $1,780 – $1,800 area. If the price could breakout above the area and close above the daily SMA 200 then the bullish trend could continue.

On the lower side, the $1,680 – $1,700 area is the place where traders could consider entering long positions.

Today’s critical levels to watch:

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

Resistance: $1,780, $1,800

Silver holding out at $21.35

Silver prices stick near the $21.35 level and will attempt to extend the bullish movement. There is a bearish attempt but the price managed to bring the price back above the opening level. If the price could continue the upward movement then $23.00 and $23.90 is the levels to watch as targets.

Today’s Critical levels to watch:

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

Resistance: $23.00, $23.90

Crude oil new lower low

Crude oil prices have confirmed a new bearish trend after the breakout below $77.13 and a new formation of a lower low. The price might continue the bearish trend and target the $70.00 support level next. Traders will avoid long positions until the price return above the $77.13 level and form strong bullish reactions.

Today’s critical level to watch:

Support: $77.13, $70.00

Resistance: $80.00, $85.00, $90.00, $95.25