Gold major bearish pressure below $1,780

Gold prices fall from the $1,800 resistance level to trade below $1,780 on the last day of October. If the price close below $1,780 then it might start a new bearish leg targeting $1,680 – $1,700 support level. Traders will wait for the closing level at the end of the week to get confirmation. A short position from the current level before the Fed FOMC meeting which will happen soon might be an option, traders could take.

Today critical levels to watch:

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

Resistance: $1,850

Silver reenter the yellow box area

Silver prices come under pressure again as the price trading back inside the yellow box area. We might see the price continue its bearish pressure and target the bottom of the yellow box area. Traders will monitor the closing level at the end of the week. A close inside the box area could mean a consolidation. Meanwhile, a close above the yellow box area is bullish confirmation.

Today Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil trading near $82.72

There is no major movement away from the $82.72 level yet. Crude oil prices continue making closing level near the level and might continue trading sideway. If the price trade lowers then traders could use $77.13 as a level to add more long positions. On the upside, $85.00 is the level the price need to break to continue the bullish trend.

Today critical level to watch:

Support: $82.72, $77.13

Resistance: $85.00, $90.00