Gold waiting for a breakout

Gold prices continue trading sideways inside the $1,900 – $1,950 area. The precious metal’s next direction has not been decided yet. However, we think the bullish trend will continue and the price might target the level above $2,000. At the current time, traders will continue waiting for the price to break out from the range to determine the next direction.

Today critical levels to watch:

Support: $1,900, $1,850

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

Silver bullish close

Silver prices pushed below the $25.00 handle and continue its downward movement. The price printed a bullish close yesterday and might indicate upward movement to retest the $25.00 – $26.00 area. Despite the situation, traders will prepare near the yellow box area for a chance to enter long positions when a test happens.

Today’s Critical levels to watch:

Support: $23.90, $23.00

Resistance: $25.00, $26.00, $27.50

Crude oil trade below $100.00

The bearish correction in crude oil prices seems to continue below the $100.00 handle. There is no bullish reaction and the price soon will reach March low. If the price continues lower below the March low then the bearish correction could span toward $90.00 and $85.00 support levels.

Today’s critical level to watch:

Support: $90.00

Resistance: $100.00, $106.00, $130.00