Gold steady near $1,680

The bearish pressure on gold prices managed to push the price down to close below the $1,680 – $1,700 area. Fortunately, there is no bearish continuation yet as the price moving steadily near the area now. Traders are awaiting the release of U.S inflation data this week. If the price could climb and close above $1,700 at the end of the week then we might see a bullish continuation.

Today’s critical levels to watch:

Support: $1,600, $1,585

Resistance: $1,680, $1,700, $1,780, $1,800

Silver moving toward $18.50

Silver prices are under bearish pressure after the breakout below the $20.00 handle. The price looks will continue the bearish movement to target the $18.50 support level. As long as there is no lower low printed on the chart, then there is a chance of a bullish reversal. A higher low which is followed by a higher high will confirm a long-term bullish reversal. (The price needs to climb and close above $21.35 to confirm the long-term bullish reversal)

Today’s Critical levels to watch:

Support: $18.50, $17.73

Resistance: $20.00, $21.35

Crude oil closed below $90.00

The bearish pressure on crude oil prices brought it down to a close below the $90.00 handle. At the current time, there is no bearish continuation, and the price stick near the $90.00 handle. Traders will monitor the price reactions near the level for now. If the price could climb and close above $95.25 then traders will expect a bullish continuation.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25