Gold bullish continuation

A fairly strong bullish reaction has occurred in the price of gold which has increased from the daily SMA 200. Currently, the price is expected to continue its strengthening towards the $1,953 point. Traders will be watching for the release of the employment data later this week which will provide further confirmation as to whether prices can strengthen further or reverse.

Today’s critical levels to watch:

Support: $1,900, $1,850

Resistance: $1,950, $2,000, $2,069, $2,074

Silver target $25.00 – $26.00

Silver prices pushed up and closed bullish yesterday. The upward pressure is getting stronger to the $25.00 point and the price will test it in the near term. As noted earlier, a close above $25.00 or $26.00 would be further bullish confirmation. Conversely, if the price fails to form a higher swing high point then there is a possibility of a decline to test the previous swing low point.

Today’s Critical levels to watch:

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

Resistance: $25.00, $26.00

Crude oil bullish pressure

Strengthening also occurred in the price of crude oil along with the weakening that occurred in the U.S. dollar index. It seems that the price of crude oil will continue to strengthen to try to form a higher swing high point. If there is no change in the situation, the price may immediately move up to continue the long-term bullish trend.

Today’s critical level to watch:

Support: $80.00, $77.13, $70.00, $65.00

Resistance: $85.00