Gold stays at the middle of $1,680 – $1,800

There is no major movement in gold prices yet. The price continues hovering in the middle of the $1,680 – $1,800 area. No conclusion yet on the price next direction. If gold prices continue lower then $1,680 – $1,700 is the area to watch for bullish reactions. On the upside, the price needs to close above the daily SMA 200 to confirm a bullish continuation.

Today’s critical levels to watch:

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

Resistance: $1,780, $1,800

Silver closed below $21.35

The bearish pressure on silver prices finally pushed the price down and close below the $21.35 level. If the price continues the bearish movement then $20.00 is the level to watch as the support level. Traders will expect a bullish continuation toward the $23.00 and $23.90 resistance levels if the $20.00 support level holds out.

Today’s Critical levels to watch:

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

Resistance: $23.00, $23.90

Crude oil return above $77.13

The bearish pressure on crude oil prices subsided yesterday as the price closed near the opening level. However, crude oil prices printed a new lower low which means the trend might continue bearish. If the price could build strong bullish momentum from the current level then there is a chance of a bullish reversal.

Today’s critical level to watch:

Support: $77.13, $70.00

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