Gold continues lower?

The bearish pressure on gold prices push the price down and close below the $1,680 level. Gold prices might continue under bearish pressure until this week’s FOMC meeting. Traders will monitor closely the price reaction after the interest-rate announcement. If the price continues the bearish movement and prints another lower low then the bearish trend is set to target the $1,585 – $1,600 area.

Today’s critical levels to watch:

Support: $1,600, $1,585

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

Silver major bullish reaction

Silver prices pushed lower last week, following other major pairs against the U.S dollar. However, the price printed strong bullish reactions at the end of the week. It could indicate a bullish reversal and upward continuation toward the $20.00 handle. However, there is no bullish continuation yet this week.

Traders will monitor the price movement for now nearing the FOMC meeting.

Today’s Critical levels to watch:

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

Resistance: $20.00, $21.35

Crude oil fall below $85.00

Crude oil prices managed to maintain the close above $85.00 at the end of the week. However, the price is currently under bearish pressure and set to continue the bearish movement. Traders will continue to monitor the closing level after the FOMC meeting this week. A close above $85.00 is extremely bullish and might start a new bullish leg.

Today’s critical level to watch:

Support: $85.00

Resistance: $90.00, $95.25, $100.00