Gold time for bullish continuation

Gold prices on the path higher and there is no stop to the upward movement now. The price made a higher high and a close above $1,700. Without a major change in the sentiment, gold prices might target the $1,780 resistance level. Traders who want to enter long positions will need to wait until the price makes a bearish correction and test the $1,700 support level.

Today critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,750, $1,780

Silver attempt to break $15.60

There was no bullish attempt in the previous day, silver prices move lower and test the $15.00 handle before it settled near its opening level. Today, silver bull returns to the market and bring the price higher to test $15.60. No breakout yet above the resistance level. We think the price might continue upward and test the $16.00 handle.

Today Critical levels to watch:

Support: $15.20, $15.00, $14.40

Resistance: $15.60, $16.00

Crude oil more bearish correction toward $20.00

OPEC and allies agreed to implement a massive production cut in the following May-June period. However, crude oil prices continue its downward movement and soon will reach the $20.00 handle again. Traders could consider entering long positions when the prices tested the $20.00 handle and form bullish reactions.

Today critical level to watch:

Support: $20.00

Resistance: $25.00, $28.74, $30.00