Gold closed above $1,900

The bullish pressure on gold prices managed to print a close above $1,900 at the end of the previous week. This week, the price is expected to continue its bullish pressure and extend the bullish movement toward the $1,950 and $2,000 resistance levels.

Traders will continue to hold long positions and waiting for a bearish correction to enter long positions.

Today critical levels to watch:

Support: $1,850, $1,800, $1,780

Resistance: $1,900, $2,000

Silver bounced from the trendline

Silver prices consolidate near the trendline last week. The price managed to bounce from the trendline at the end of the week. Traders will continue to assume that the trend will continue bullish with $31.50 as an upside target. As long as there is no close below the trendline, no reason to enter short positions.

Today Critical levels to watch:

Support: $27.00, $26.00, $25.00, $21.35, $20.00

Resistance: $30.00, $31.50

Crude oil settled near the top of box area

The upward movement of crude oil prices tested the top of the yellow box area last week. There is no breakout and close above the level yet. This week, traders will expect the price to resume its test on the top of the box area. If the breakout happens then $70.00 is the nearest resistance level to watch.

Today critical level to watch:

Support: $65.00, $60.00, $57.60, $55.80, $54.50

Resistance: $67.20, $70.00