Gold closed near $1,700

Gold prices experience bearish pressure yesterday as U.S inflation was worse than expected. Despite the bearish situation, the inflation number actually turn lower and it might indicate a better situation. At the current time, traders will monitor gold prices reaction near the $1,680 – $1,700 area. If the price could bounce from the area then there is a chance of upward movement toward the $1,780 – $1,800 area.

Today’s critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver slight bearish reaction

Silver prices made a bearish close yesterday but not far from the $20.00 handle. The price might consolidate near the level and waiting for further reaction. If the price could continue moving upward and close above $20.00 then traders will expect a continuation toward the $21.35 resistance level.

Today’s Critical levels to watch:

Support: $18.50, $17.73, $17.50, $16.00

Resistance: $20.00, $21.35

Crude oil continues trades between $85.00 – $95.25

Crude oil prices currently undergo consolidation after the price return inside the $85.00 – $95.25 area. The price might continue its bearish movement and target $80.00 and lower. At the current time, traders will monitor the price movement inside the $85.00 – $95.25 area. A major bearish reaction from $90.00 or $95.25 might indicate a bearish continuation.

Today’s critical level to watch:

Support: $85.00

Resistance: $90.00, $95.25, $100.00