Gold more consolidation

Gold prices could not maintain its bullish pressure above the daily SMA 200. The price also could not form a higher swing high which means there is no bullish continuation. This week, the price might continue its consolidation between $1,780 – $1,800 with a bullish bias.

Today critical levels to watch:

Support: $1,780

Resistance: $1,800, $1,850

Silver closed below $23.90

Silver prices breakout above the yellow box area and managed to reach the level near $25.00. However, the price lost bullish pressure and settled below $23.90, or the top of the yellow box area at the end of the week. This week, the price might consolidate inside the yellow box area.

If a close above the yellow box area happens and is maintained until the end of the week then there is a chance for bullish continuation to test $25.00 – $26.00.

Today Critical levels to watch:

Support: $23.90, $23.00, $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil stick inside $67.20 – $70.00 area

There was no breakout from the $67.20 – $70.00 area yet. Crude oil prices closed the week near the $70.00 resistance level and are expected to continue its consolidation this week. Traders will continue waiting for the close outside of the range before deciding to add more positions.

Today critical level to watch:

Support: $67.20, $65.00, $60.00

Resistance: $70.00, $77.13