Gold closed near $1,950

Last Friday, gold prices experienced bearish pressure and almost reach $1,900 support level. However, the price bounced midway and gold managed to close the day inside the Thursday range. It seems the bull still has control and might attempt to bring the precious metal higher above $1,950.

Traders will observe the price movement this week and anticipate further bullish trend above $2,000

Today critical levels to watch:

Support: $1,900, $1,800

Resistance: $1,950, $2,000, $2,050

Silver bounced from $25.00 – $26.00

The bearish pressure on silver prices managed to bring the price down to test $25.00 – $26.00 area last week. At the end of the week, the price bounced from the area and closed inside the Thursday range. If the price could continue to maintain the positions above $25.00 – $26.00 then traders will expect bullish continuation.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35

Resistance: $30.00

Crude oil sideway with a bearish bias

Crude oil prices continue its sideways movement but with a bearish bias. Same as previous analysis, as long as crude oil prices could stay above $38.50 then the trend will continue bullish. At the current time, traders could use $38.50 – $40.00 as levels to take long positions.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00