Gold target $2,000

A bearish correction is a natural thing to happen in gold prices at the current level. However, no major bearish pressure seen yet in gold and the precious metal might continue upward to reach $2,000 without correction. At the current time, traders could use $1,950 as mini support to enter short-term long positions.

If bearish correction happens then gold might target $1,900.

Today critical levels to watch:

Support: $1,960, $1,950, $1,919.90

Resistance: $2,000

Silver mostly sideway

Silver bullish attempt got rejected from the $25.00 resistance level yesterday. The price formed a bearish pin bar pattern but no bearish confirmation yet. At the current time, the price might continue to maintain its bullish pressure and set to retest the $25.00 – $26.00 resistance area.

Traders who have long positions could continue to hold the positions until there is major bearish reaction happen.

Today Critical levels to watch:

Support: $21.35, $20.00, $18.50

Resistance: $25.00, $26.00

Crude oil more sideways movement

The bearish pressure on crude oil could not break the $38.50 – $40.00 area. We have a small bullish bounce from the area and crude oil managed to maintain its positions above the area for now. No change to the outlook of the price which expected to continue consolidation near $38.50 – $40.00.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00