Gold looking to test $1,680 – $1,700

Gold prices is moving upward following the weakness of U.S dollar index. The price has not yet reached the $1,680 – $1,700 area, and traders will wait at the sideline for now. If the price could close above $1,700 then the bullish movement could continue to target a new higher high to confirm bullish continuation.

Today’s critical levels to watch:

Support: $1,600, $1,585

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

Silver waiting for $20.00 test

Silver prices attempt to build more bullish pressure toward the $20.00 handle. The price needs to close above $20.00 to confirm further upward movement to test $21.35. The key to triggering a long-term bullish reversal is a close above $21.35 or a new higher high. If the price gets rejected from the $20.00 handle then we might see another bearish attempt on $18.50.

Today’s Critical levels to watch:

Support: $18.50, $17.73

Resistance: $20.00, $21.35

Crude oil moving toward $90.00

Crude oil prices bounced from the $85.00 handle with strong bullish momentum. The price might test the $90.00 handle and extend the bullish movement toward $95.25 if the resistance level breaks to the upside. On the other hand, a bearish rejection from $90.00 might confirm a ranging movement between $85.00 – $90.00.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25