Gold bullish pressure

Gold prices settled between the $1,900 – $1,950 range last week. The price currently building bullish pressure and attempting to break out above $1,950. At the current time, the upward movement has moderate bullish momentum. If the price could close above the resistance level at the end of the day then we might see a continuation toward $2,000 or higher.

Today critical levels to watch:

Support: $1,900, $1,850

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

Silver set to test $25.00

The bullish movement of gold prices is also experienced by silver prices today. Silver prices currently testing the $25.00 resistance level and traders will wait for further reaction. If the price gets rejected with a strong bearish reaction then we might see a continuation toward the yellow box area. On the other hand, a close above $25.00 will open the path toward the $26.00 resistance level.

Today’s Critical levels to watch:

Support: $23.90, $23.00

Resistance: $25.00, $26.00, $27.50

Crude oil hovering at the $93.50 – $94.00 area

Crude oil bearish pullback reaction seems stopped around the $93.50 – $94.00 area or the previous swing low. At the current time, the consolidation is set to continue inside the triangle area and traders will wait for a breakout from the triangle area. Traders will wait for a close outside of the triangle area to get confirmation on the next direction.

Today’s critical level to watch:

Support: $90.00

Resistance: $100.00, $106.00, $130.00