Gold extends bullish movement above $1,700

Gold prices have secured a close above the $1,680 – $1,700 area and the bull extend the upward movement yesterday. If there is no change to the situation then gold prices could continue the bullish movement and target the $1,780 – $1,800 area next. Traders could use the $1,680 – $1,700 area as the place to enter long positions.

However, the long-term trend is bearish which means traders better await for short positions chance near the $1,780 – $1,800 area.

Today’s critical levels to watch:

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

Resistance: $1,780, $1,800

Silver getting near $21.35

Silver prices continue moving upward and closed near $21.35. The price soon will test the resistance level where it might get bearish reactions. If the price move lower then $20.00 will become the support level to watch. Silver prices might consolidate between $20.00 – $21.35 while waiting for this month’s FOMC meeting.

Today’s Critical levels to watch:

Support: $20.00, $18.50, $17.73

Resistance: $21.35

Crude oil closed above $85.00

Crude oil prices trading upward and printed a close above $85.00 handle yesterday. The price might continue the bullish movement and target the $90.00 handle and also $95.25. Traders will monitor the price reactions near both resistance levels. If there are major bearish reactions then traders could enter short positions.

Today’s critical level to watch:

Support: $77.13

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