Gold continues toward $1,900?

Gold prices continue to maintain their position near the high without major bearish reactions. The price might continue its upward movement to target the $1,900 resistance level. When the price hit the resistance level and forms a major bearish reaction, traders could enter short positions. On the lower side, $1,850 is the support level to watch for long positions when a bullish bounce happens.

Today’s critical levels to watch:

Support: $1,800, $1,780, $1,700

Resistance: $1,850, $1,900

Silver range between $23.00 – $23.90

There is no breakout from the $23.00 – $23.90 range yet in silver prices. It got rejected from the $23.90 resistance level and looks will start moving lower again to target the $23.00 support level. Traders will use the moment to continue to apply the range trading strategy as long as there is no breakout and close outside of the range. However, it is better to stick with long positions as the prevailing trend is bullish.

Today’s Critical levels to watch:

Support: $23.90, $23.00, $21.35

Resistance: $25.00, $26.00

Crude oil rejection from $77.13

Crude oil experienced bearish rejection from the $77.13 level and might continue the bearish movement to target the $70.00 support level. Traders will continue to stick with short positions as long as the price continues printing a new lower low and lower high. On the lower side, if the price tested $70.00 and bounce from it without a new lower low then we might see a bullish reversal.

Today’s critical level to watch:

Support: $77.13, $70.00

Resistance: $80.00, $85.00, $90.00, $95.25