Gold slightly higher before reaching $1,680 – $1,700

There is a bullish reaction yesterday in gold prices which formed a bullish engulfing pattern. The price seems to avoid further weakness toward the $1,680 – $1,700 support level. At the current time, the price movement is mostly sideways. Will the price continue moving upward and retest the $1,780 – $1,800 area? Alternatively, will it continue toward the $1,680 – $1,700 target or lower?

Today critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800, $1,850

Silver bounced from $21.35

The bearish target has been reached and now there is a bullish reaction from the level. If silver prices could continue building more bullish pressure then it will retest the yellow box area. As long as the price stays below the area then there is no reason to become bullish yet.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil more consolidation near $77.13

The $77.13 resistance level has been reached and crude oil prices seem to start to move sideways. The consolidation is in progress and traders will wait for further reaction. If the price could close above $77.13 then the bullish trend will continue. On the lower side, $70.00 is the support level to watch.

Today critical level to watch:

Support: $70.00, $67.20

Resistance: $77.13