Gold consolidation between $1,953 – $2,000

Gold prices are in a bullish trend but stay below the $2,000 handle. The situation is currently sideways between $1,953 – $2,000 and traders will wait for the price to make a close outside of the range. If the price continues moving lower then traders could wait near the $1,900 level for the chance to add more long positions. As long as there is no lower low printed on the chart, there is no reason to enter short positions.

Today’s critical levels to watch:

Support: $1,900, $1,850

Resistance: $1,950

Silver closed above $23.90

Silver prices built more bullish pressure and managed to close above $23.90 at the end of the previous week. The price is expected to continue the bullish movement and target a $25.00 – $26.00 resistance area next. If the price starts moving lower again the traders could wait near the $21.35 and $23.00 levels for a chance to enter long positions.

Today’s Critical levels to watch:

Support: $21.35, $20.00

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil gap above $77.13

Crude oil prices continue the bullish attempt this week and opened gapped up above the $77.13 resistance level. The price might continue upward and print a new higher high to confirm a new bullish trend. If the price starts moving lower then traders could wait near the $77.13 level for a chance to enter long positions.

Today’s critical level to watch:

Support: $70.00, $65.00

Resistance: $77.13, $80.00, $85.00, $90.00, $95.25