Gold lower low and lower close
Gold prices could not surpass the $1,780 resistance level. The price formed a lower low yesterday also a lower close. If there is no change to the bearish pressure then gold prices are set to continue lower and target $1,680 – $1,700 support area. At the current time, the price is attempting to recover part of the losses incurred yesterday.
Today critical levels to watch:
Support: $1,700, $1,680
Resistance: $1,780, $1,800, $1,850
Silver trading sideway
Silver prices got rejected from the yellow box area but no major bearish continuation yet in the price. Traders will observe the price movement at the current level. If the bearish pressure continues to mount then the price is expected to target the $21.35 support level.
Today Critical levels to watch:
Support: $21.35, $20.00
Resistance: $23.00, $23.90, $25.00, $26.00
Crude oil continue bullish movement after bounce from $70.00
Crude oil prices bounced from the $70.00 support level and managed to print consecutive bullish closes. The price has surpassed the previous week’s high and might continue upward to target the $77.13 resistance level. As long as the price stay above $70.00, traders could continue to hold long positions.
Today critical level to watch:
Support: $70.00, $67.20