Gold stick near $2,000

The bullish movement of gold prices stopped last week after a major bearish close. However, the price manages to hold its position above the $2,000 handle and will attempt to bounce from it. Traders could use the current bearish correction moment to add more long positions near the support level. On the lower side, $1,950 is the next support level to watch.

Today’s critical levels to watch:

Support: $2,000, $1,950, $1,900, $1,850

Resistance: $2,069, $2,074

Silver rejection from $26.00

The bearish rejection from the $26.00 resistance level brought silver prices lower to test the $25.00 support level. At the current time, the price is trading between the $25.00 – $26.00 area and might continue the consolidation for now. Traders will use the current bearish movement to enter more long positions at a lower level. Below the $25.00 level, traders could use the $23.90 support level.

Today’s Critical levels to watch:

Support: $23.90, $23.00, $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil waiting for bullish pressure

Crude oil prices were trading upward and printed a new higher high on the chart. The bullish trend has been confirmed and traders will wait for a bearish correction to enter more long positions at a lower level. On the lower side, $77.13 is the level to watch for bullish reactions. We might see another bearish attempt in May as the Fed might raise interest-rate again for the last time.

Today’s critical level to watch:

Support: $77.13, $70.00, $65.00

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