Gold reached $1,680 – $1,700 target

The bearish movement of gold prices has reached the $1,680 – $1,700 area where a bullish reaction happens. If the bullish pressure could continue to build up and the price moves upward then gold prices might form a double bottom pattern. A close above $1,800 will become a major confirmation of the double bottom pattern.

Today’s critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver tested $17.50 – $17.73

The bearish breakout from the $18.50 support level brought silver prices down to test the $17.50 – $17.73 area. There is a bullish reaction that might bring the price up to test the $18.50 level. As long as the price continues printing a new lower low and lower high on the chart, there is no strong reason for traders to enter long positions.

Today’s Critical levels to watch:

Support: $17.73, $17.50, $16.00

Resistance: $18.50, $20.00, $21.35

Crude oil trading inside $85.00 – $95.25

Crude oil prices were under bearish pressure which brought the price down toward the level near $85.00. However, the price shows bullish reactions and currently trading upward. We might see crude oil prices continue trading between $85.00 – $95.25 for now. Traders will wait for a breakout from the range to confirm the next direction.

Today’s critical level to watch:

Support: $85.00

Resistance: $90.00, $95.25, $100.00