Gold waiting for a breakout from $1,900 – $1,950

The bounce from the $1,900 support level bring the price higher and almost reached the $1,950 resistance level. Nevertheless, gold prices still close higher and maintain the bullish pressure. However, gold prices are currently under slight bearish pressure. Traders will wait for the closing outside of the $1,900 – $1,950 area to confirm the next direction.

Today critical levels to watch:

Support: $1,900, $1,850

Resistance: $1,953, $2,000, $2,074.69

Silver stick near the $25.00 handle

Silver prices could not break and close above the $25.00 handle. It needs to close above the level before the end of the week to confirm further upside. If a close above $25.00 happens then there is a chance of continuation toward the $26.00 handle. On the other hand, a bearish rejection from the level will prompt another test on the yellow box area.

Today’s Critical levels to watch:

Support: $25.00, $23.90, $23.00

Resistance: $26.00, $27.50

Crude oil printed a lower low

Crude oil prices are in a bullish trend for the long-term but the short-term trend is bearish as the price continues moving lower. Fortunately, no major lower swing low printed yet. At the current time, the price is supported by the trendline and will attempt to bounce from it. Traders will monitor the price movement inside the triangle area and wait for a breakout to confirm the next direction.

Today’s critical level to watch:

Support: $100.00, $90.00

Resistance: $106.00, $130.00