Gold bullish engulfing pattern

Gold prices made a bullish reaction near the bottom of the triangle and the $1,900 support level. The price closed near $1,950 and the top of the triangle. If the price could continue moving higher and breakout above the bullish pattern then traders will expect gold to extend its bullish movement toward $2,000.

Today critical levels to watch:

Support: $1,900, $1,800

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

Silver bounce from $26.00

Silver prices reacted to the $26.00 support level and formed a bullish candlestick close yesterday. The overall trend is bullish and traders will expect breakout above the high for bullish continuation. If silver continues its bullish trend then $30.00 and $31.50 will become the upward target.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35

Resistance: $30.00

Crude oil consolidate near the high

There was higher-high printed yesterday in crude oil but the price could not make higher close. Crude oil prices expected to consolidate near the current level and waiting for further reaction. In the long-term, if bullish pressure is maintained then crude oil might target $49.00 – $50.00.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00