Gold testing the $2,000 handle

Gold bearish pressure has receded and the price made higher close yesterday. The closing level is not far from $2,000 and currently, the price is testing the resistance level. If the price could continue higher and surpass previous Tuesday high then traders will expect the continuation of the long-term bullish trend.

At the current time, traders will observe the reaction near the $2,000 handle.

Today critical levels to watch:

Support: $1,950, $1,900, $1,800

Resistance: $2,000, $2,050

Silver bounced from $25.00 – $26.00

Silver maintained the positions above $25.00 – $26.00 and there is bullish follow-through today. If the bull could continue to add more bullish pressure then traders will expect the price to reach $30.00 and $31.50. Meanwhile, it is better to avoid short positions now.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35

Resistance: $30.00

Crude oil slow bullish movement

Although the price of crude oil moving in bullish track, the movement rather slow. Same as previous analysis, crude oil expected to continue moving sideline with a bullish bias. Short positions are not suggested until the price break below $38.50.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00