Gold under bearish pressure

The price of gold managed to maintain the position above $1,680 last week and suggest more upside. However, the price is currently under bearish pressure at the $1,680 level. If the price gain more bearish pressure and close below $1,680 then the bearish trend could continue to target $1,580 – $1,600 area.

Today’s critical levels to watch:

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

Resistance: $1,700, $1,780, $1,800

Silver breakout below $20.00

Silver price managed to close the week above $20.00 which means there is a chance of bullish continuation toward the $21.35 resistance level. However, the price comes under bearish pressure today, and traders are below the $20.00 handle. If the bearish pressure continues to piling then we might see a bearish movement toward $18.50 and $17.73. On the other hand, if the price could close the week above $20.00 then there is a chance of a bullish continuation toward $21.35.

Today’s Critical levels to watch:

Support: $20.00, $18.50, $17.73

Resistance: $21.35

Crude oil getting near $95.25

The upward movement of crude oil prices has not stopped yet. The price is getting near the $95.25 resistance level and might close above it. If the price could close above $95.25 and print a new higher high then the bullish trend is set to continue. Traders could wait near the $90.00 level for a chance to enter long positions.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25