Gold bullish reversal?

Gold prices could not close yesterday’s trading session on the bullish side. The price printed a bearish close and there is a bearish continuation today. However, the bull seizes control and brings the price back above the opening level. If the bull could continue to maintain the bullish pressure then gold prices might close the day with a bullish pin bar pattern.

Traders will monitor the price movement next week. If the price moves upward then it will target the $1,680 – $1,700 area.

Today’s critical levels to watch:

Support: $1,600, $1,585

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

Silver consolidation near $18.50

Silver prices stick near the $18.50 level without major reactions. The price might continue the ranging movement and close the week near $18.50. Traders will continue to observe the price reactions near the $18.50 level next week. Will the price bounce from the level and continue upward to target $20.00 and $21.35?

Today’s Critical levels to watch:

Support: $18.50, $17.73

Resistance: $20.00, $21.35

Crude oil trades near $85.00

The bullish pressure on crude oil prices ended as a bearish close yesterday. The price continues moving lower today and traded below $85.00. Despite the situation, the price attempted to maintain the level near $85.00. Traders will continue to observe the price reactions near $85.00 for now.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25