Gold waiting for reactions at $2,000

The bullish trend of gold prices managed to print a new higher high last week and the price currently undergoes a bearish correction. Traders will monitor the price reactions at the $2,000 handle. If the price could bounce from the level then traders will expect another rally to print a new record high. On the lower side, $1,953 and $1,900 could act as support levels too when a bearish retest happens.

Today’s critical levels to watch:

Support: $1,950, $1,900, $1,850

Resistance: $2,000, $2,069, $2,074

Silver more consolidation between $25.00 – $26.00

Silver prices will continue the consolidation between the $25.00 – $26.00 area for now as the price waiting for further bullish pressure. We think the bullish trend will continue for the long term and each bearish correction is a chance for traders to enter more long positions. On the lower side, the $23.00 – $23.90 area is the place to watch to enter more long positions.

Today’s Critical levels to watch:

Support: $23.90, $23.00, $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil bounced from $65.00

Crude oil prices made a strong bullish bounce from the $65.00 level and managed to close above $70.00 last week. The bullish pressure continues this week and traders could expect the upward movement to target the $77.13 level. A close above the $77.13 level will confirm the bullish continuation of crude oil prices. However, the price might form a lower high if it failed to climb above the $77.13 level. Traders will wait for further reactions to confirm the price’s next direction.

Today’s critical level to watch:

Support: $77.13, $70.00, $65.00

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