Gold rejected from $1,780
The upward movement of the gold prices experiences rejection from the $1,780 resistance level. We have a pin bar pattern and there is bearish follow-through today. If the price forms a lower low below the previous week’s low then the bearish trend is set to continue toward $1,680 – $1,700.
Today critical levels to watch:
Support: $1,700, $1,680
Resistance: $1,780, $1,800, $1,850
Silver failed to close inside the yellow box area
The bullish attempt in silver prices seems to fail to print a close inside the yellow box area. At the current time, the price continues trading sideways and there is no major clue on the next direction. If the price could maintain the close near the yellow box area or inside the area then there is a chance for a bullish reversal. Otherwise, the pair is set to continue the downward movement to target $21.35.
Today Critical levels to watch:
Support: $21.35, $20.00
Resistance: $23.00, $23.90, $25.00, $26.00
Crude oil continue bullish movement toward $77.13
The bounce from the $70.00 support level seems to gain bullish traction. Crude oil prices currently testing the previous week’s high and will attempt to close the week above it. There is no reason to become bearish before the price reaches $77.13 or make a close below $70.00.
Today critical level to watch:
Support: $70.00, $67.20