Gold more consolidation

Similar to the previous day’s situation, gold prices continue trading sideways near the $1,780 -$1,800 level. The price might stay sideline for now while traders waiting for the release of U.S job data tomorrow. The SMA 200 and $1,680 continue to become the key level to watch for confirmation on the long-term direction.

Today critical levels to watch:

Support: $1,700, $1,680

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

Silver building bullish pressure

Silver prices follow gold prices direction which trades sideway. The price currently looks building bullish pressure and soon might test the yellow box area. If the price could close above the yellow box area then it could continue upward to target $25.00 – $26.00.

Today Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil bullish reversal?

Yesterday, crude oil prices formed a bearish engulfing pattern and there is bearish follow-through today. However, the bearish momentum seems to recede and the price recovers to the level near its opening level. If the price could close near the opening level and above $77.13 then a bullish pin bar will be formed and there is a chance for bullish continuation.

Today critical level to watch:

Support: $70.00, $67.20

Resistance: $77.13