Gold surpassed $2,000

Gold prices continue its bullish movement and closed above $2,000 handle. The precious metal currently continues its bullish movement above the previous day high. Similar to the previous analysis, traders will avoid taking short positions at least until gold formed a major bearish pattern.

Today critical levels to watch:

Support: $2,000, $1,960

Resistance: $2,050

Silver closed near $26.00

The bullish pressure in silver prices continues yesterday. It managed to bring the price to close near $26.00. Today, there is further bullish pressure above the previous day high. If the bull could maintain the bullish pressure then we might see silver close above $26.00.

Today Critical levels to watch:

Support: $25.00, $21.35

Resistance: $26.00

Crude oil building bullish pressure

Crude oil attempting to add more bullish pressure in few days. The price has not left the previous month range though. At the current time, traders will observe the price reaction near the top. If there is major bearish rejection then traders could take short positions with $38.50 – $40.00 as the initial target.

As long as $38.50 – $40.00 maintained, the crude oil trend will continue bullish.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00