Gold continue between $1,780 – $1,800

There is no breakout yet from the $1,780 – $1,800 area in gold prices. The price is expected to continue its consolidation inside the area and traders will continue to stay sideline. On the upside, the price needs to climb and close above daily SMA 200 also print higher swing high to confirm bullish continuation.

On the downside, a close below $1,780 is confirmation for bearish continuation.

Today critical levels to watch:

Support: $1,780

Resistance: $1,800, $1,850

Silver pin bar pattern

The bearish pressure on silver prices brought the price lower yesterday but it managed to print a pin bar pattern. The price currently trading inside the previous day’s range without breakout yet. If the price could build more bullish pressure and close above the yellow box area then traders will expect bullish continuation.

Today Critical levels to watch:

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

Resistance: $25.00, $26.00

Crude oil breakout above $70.00

Crude oil prices finally breakout above the $70.00 resistance level. It continues to build more bullish pressure today and is expected to extend the bullish movement to target $77.13. Traders who want to add more long positions will wait for a bearish correction to retest $70.00.

Today critical level to watch:

Support: $67.20, $65.00, $60.00

Resistance: $70.00, $77.13