Gold settled inside the triangle pattern

The bullish attempt on Friday end inside the triangle pattern but managed to close above $1,950 resistance level. This week, gold prices might continue its consolidation with a bullish bias. If breakout above the triangle pattern happens then gold is expected to target $2,000 also the all-time high.

Today critical levels to watch:

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

Resistance: $2,000, $2,050

Silver on the path higher

Silver bounced from the $25.00 – $26.00 support area and settled higher last week. The price is set to continue its bullish trend and target $30.00 also $31.50. As long as the price stay above $25.00 – $26.00 area, traders could continue to hold long positions.

However, if the bearish breakout happens then silver might target $21.35 support level.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35

Resistance: $30.00

Crude oil steady bullish trend

Crude oil continue its upward movement though slowly. The price has bearish reaction but not a major one. As long as the price continues printing higher high and higher low, traders will avoid taking short positions. If the price move toward $38.50 – $40.00 area then traders could consider entering long positions.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00