Gold closed inside the yellow box area

Despite the bearish pressure on gold prices, the prices managed to settle inside the yellow box area at the end of the week. This week, gold prices might continue trading inside the yellow box area with a bullish bias. We still maintain the bullish target of gold prices at $1,950 and $2,000.

Today critical levels to watch:

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

Resistance: $1,900, $1,950, $2,000

Silver maintain the positions above $27.50

Silver prices initially fell and closed below $27.05. However, the price could recover at the end of the week and closed above $27.50. If the price could bounce from $27.50 and closed above the trendline then the bullish continuation will continue smoothly toward $30.00 and $31.50.

Alternatively, if the price continues moving lower then traders could use $25.00 – $26.00 as a level to enter long positions.

Today Critical levels to watch:

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

Resistance: $29.00, $30.00, $31.50

Crude oil target reached

Crude oil prices touched the $70.00 resistance level today and completed the upward target. The price might start a bearish correction and traders could use the top of the yellow box area to add more long positions. At the current time, there is no change to the outlook, traders could continue to hold long positions and expect a breakout above $70.00.

Today critical level to watch:

Support: $67.20, $65.00, $60.00

Resistance: $70.00