Gold testing the $1,950 resistance

Gold bullish pressure on the $1,950 resistance level has not resulted in a major bullish breakout yet. The price continues trading near the level and waiting for further reaction. If the price gets rejected then we might see a continuation of consolidation between $1,900 – $1,950. At the current time, traders will continue to hold long positions with the expectation that the price will breakout toward $2,000.

Today critical levels to watch:

Support: $1,900, $1,850

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

Silver trading at $25.00

Silver prices traded upward and closed near the $25.00 handle. No major reaction yet from the level and the price currently trading sideways. If the price could continue to build bullish pressure then a retest on $26.00 will happen soon. On the other hand, if the price fall with strong bearish momentum then silver prices are set to retest the yellow box area.

Today’s Critical levels to watch:

Support: $23.90, $23.00

Resistance: $25.00, $26.00, $27.50

Crude oil bullish reaction

Crude oil continues printing a lower low on the daily chart. Fortunately, the bearish pressure receded today and the price start a bullish bounce. On the upside, the price needs to break and close above the trendline to confirm a bullish reversal. If a bearish breakout happens then crude oil prices will target $90.00 and $85.00.

Today’s critical level to watch:

Support: $90.00

Resistance: $100.00, $106.00, $130.00