Gold bearish continuation toward $1,680 – $1,700

A new lower low printed below the previous week’s low confirms a bearish continuation toward the $1,680 – $1,700 area. At the current time, traders will avoid entering long positions and wait until the price either reach $1,680 – $1,700 area or close above daily SMA 200.

Today critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800, $1,850

Silver sideway movement

Silver prices traded lower yesterday but no lower low printed below the previous week’s low. The price seems to consolidate near the current level and will wait for further reaction. If the price continues its bearish movement then it will 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 rejection from the level near $77.13

The upward movement of crude oil prices finally reached the level near the $77.13 resistance level. There was a bearish reaction yesterday and the price formed a bearish pin bar pattern. If the price starts moving lower then traders could observe the price reaction near the horizontal support level.

Today critical level to watch:

Support: $70.00, $67.20

Resistance: $77.13