Gold slowly moving lower toward $1,680 – $1,700

The bearish movement of gold is expected to continue toward the $1,680 – $1,700 support level. Traders will wait for the price to reach the level for a chance for bullish positions. On the upside, the price needs to close above daily SMA 200 to confirm a bullish reversal.

Today critical levels to watch:

Support: $1,700, $1,680

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

Silver reached $21.35 support level

The bearish pressure on silver price brought it down to close near the $21.35 support level. The bearish target has been reached and traders will wait for a reaction. If the price continues moving lower below the support level then the bearish trend might continue. On the upside, the price needs a close above the yellow box area to reverse the current bearish trend.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil consolidating after $77.13 rejection

Crude oil prices were slightly lower after the rejection from the $77.13 resistance level. The price might continue moving lower to test the horizontal level shown on the chart. If a bounce happens then we might see another upward movement to retest the $77.13 resistance level.

Today critical level to watch:

Support: $70.00, $67.20

Resistance: $77.13