Gold moving upward to $1,780 – $1,800

Gold prices experienced bullish sentiment after the bounce from the $1,680 – $1,700 area. This week, the price might continue the bullish movement and test the $1,780 – $1,800 area. Traders will monitor closely the price reactions near the area. If the price gets rejected with strong bearish reactions then we might see a continuation of the bearish trend.

On the other hand, a close above $1,800 will confirm further upward movement to test daily SMA 200.

Today’s critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800

Silver closed above $20.00

A close above $20.00 happened at the end of the week which confirm the bullish scenario. Silver prices might continue the bullish movement this week toward the $21.35 resistance level. Traders will wait near the $21.35 resistance level for a bearish reaction to entering short positions. However, a close above $21.35 will confirm a bullish reversal.

Today’s Critical levels to watch:

Support: $20.00, $18.50, $16.00

Resistance: $21.35, $23.00, $23.90

Crude oil more movement near $95.25

Although other major pairs experience bullish pressure, crude oil prices could not add more gain above $95.25. The price might continue trading sideways near the level this week and wait for further reaction. A close below $95.25 will confirm a bearish continuation. On the upside, a close above $106.00 is a bullish signal.

Today’s critical level to watch:

Support: $95.25, $90.00

Resistance: $100.00, $106.00, $130.00