Gold rejection from $1,780?

The rejection from $1,800 yield another bearish close yesterday but not a significant one. Gold prices reverse its movement today and attempt to move upward. However, the bullish movement seems intercepted at the $1,780 resistance level. At the current time, the price has moved below the previous day’s low. If the price continues moving lower and closes below Monday’s low then we might see a bearish continuation.

Today critical levels to watch:

Support: $1,700, $1,680

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

Silver resume bullish movement

We have a bullish continuation in silver prices after the retest on the $23.00 level. At the current time, silver prices are testing the top of the yellow box area. If the price could close above the area then we might see a bullish continuation toward the $25.00 – $26.00 area. On the other hand, a major bearish reversal from the current level might bring the price lower below $23.00.

Today Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil limited at $82.72 resistance level

Crude oil prices managed to reach the $82.72 resistance level and are expected to continue its bullish movement. However, the price seems limited near the resistance level and might continue trading near it for now. Traders will continue to monitor the price reaction. If the price starts moving lower then $77.13 is the support level to watch for a bounce.

Today critical level to watch:

Support: $77.13, $70.00, $67.20

Resistance: $82.72