Gold building bullish pressure

Gold prices trading upward as the U.S dollar index undergoes bearish correction. The bullish movement soon will reach the $1,680 – $1,700 area and test it. If the price could climb and close above $1,700 then there is a chance of bullish continuation to target $1,780 – $1,800. On the other hand, a major bearish rejection without a new higher high is a bearish confirmation.

Today’s critical levels to watch:

Support: $1,600, $1,585

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

Silver is moving toward $20.00

Silver prices moving back to its bullish track and are set to target the $20.00 handle. Traders will monitor the price movement near the resistance level. If the price could break out and close above it then silver prices will target $21.35. However, if a bearish reversal happens and a new lower low is printed then the bearish trend is set to continue.

Today’s Critical levels to watch:

Support: $18.50, $17.73

Resistance: $20.00, $21.35

Crude oil sticks near $85.00

Another close near $85.00 happens in crude oil prices after a bearish attempt. The price continues to stick near the $85.00 handle and might continue the sideway movement. Traders will continue to observe the price reactions at the $85.00 handle. If the price could continue moving upward then it will target the $90.00 and $95.25 resistance levels.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25