Gold under bearish pressure

Gold prices do not continue the bullish movement toward the $1,680 – $1,700 area. The price is under bearish pressure and might extend the movement toward the $1,580 – $1,600 area. Traders will continue waiting for the price reactions near $1,680 – $1,700. A close above $1,700 is a bullish continuation confirmation.

Today’s critical levels to watch:

Support: $1,600, $1,585

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

Silver retesting $18.50?

The upward movement of silver prices halted before it could reach the $20.00 resistance level. The price is currently under bearish pressure and might target the $18.50 support level. Traders will continue to monitor the price movement between the $18.50 – $20.00 area for now. A breakout and close outside of the range will confirm the next direction.

Today’s Critical levels to watch:

Support: $18.50, $17.73

Resistance: $20.00, $21.35

Crude oil ranges between $85.00 – $90.00

Crude oil prices reached the $90.00 handle and bounced from it. The price is trading lower but maintains the position near yesterday’s low. It seems the price will start a consolidation between the $85.00 – $90.00 area and traders will wait for a breakout from the range to confirm the next direction.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25