Gold closed above $1,850

The gold price might have canceled its bearish scenario after the close above $1,850. The bullish close above $1,850 needs further bullish confirmation above the previous week’s high. If the price could climb above the previous week’s high then traders will prepare for a rally toward $1,900 and $2,000 in the long-term.

Today critical levels to watch:

Support: $1,850, $1,800, $1,780

Resistance: $1,900, $2,000

Silver bullish breakout

After prolonged consolidation inside the triangle pattern, silver prices finally make a breakout today. The price currently testing the $25.00 – $26.00 area and looking to continue its bullish breakout. Traders will assume the price will be able to breakout higher and will continue to hold long positions.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil on the path toward $49.00 and $50.00

There is no bearish reaction as crude oil prices continue to its bullish close. The price now trading at $47.77 and soon will reach the $49.00 – $50.00 area. Without any change in the sentiment, crude oil might close the year near $50.00.

Today critical level to watch:

Support: $45.00, $40.00, $38.50

Resistance: $49.00, $50.00