Gold set to test $1,850

Gold made further bullish close yesterday above Tuesday high. The precious metal set to continue its bullish movement and test the $1,850 flip level. If the price could breakout and close above $1,850 then gold expected to resume its bullish trend toward $1,950 and $2,000. On the other hand, if a bearish reversal happens then gold might target the level below $1,780 -$1,800.

Today critical levels to watch:

Support: $1,800, $1,780, $1,700, $1,680

Resistance: $1,850, $1,900

Silver more consolidation inside the triangle pattern

Silver prices have closed inside the triangle pattern again. The price might continue its ranging movement and look for a breakout. This time, the breakout direction might happen to the upside. Traders will watch the top of the pattern and the $25.00 – $26.00 area closely for now.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil stick near $45.00

The bearish close below $45.00 has no continuation. Crude oil prices made a bullish close near $45.00 yesterday. The price currently trades near the level and looks will continue its consolidation. We expect the price to continue the bullish movement and target the $49.00 and $50.00 resistance level.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $45.00, $49.00, $50.00