Gold more bullish pressure

Gold prices made a bullish close near the $1,900 resistance level. The precious metal is expected to add more bullish gain this week as Democrats and Republic have reached consensus on the stimulus deal. U.S dollar expected to continue as weakness and gold on the other hand experience gain. However, traders might want to monitor the price reaction near $1,900.

A close above $1,900 will confirm further upside in gold prices.

Today critical levels to watch:

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

Resistance: $1,900, $2,000

Silver settled inside $25.00 – $26.00

Silver prices closed inside the $25.00 – $26.00 area last week. The price set to test the $26.00 resistance level this week and looking for a breakout. Traders could continue to hold long positions and waiting for a close above $26.00 for further bullish confirmation.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

Resistance: $26.00

Crude oil closed near $49.00 – $50.00

There is a bearish reversal yet in crude oil prices. The price continues to add more gain and closed above $49.00 last week. Traders could expect more bullish pressure this week as the U.S stimulus bill agreed. However, traders might want to be careful of bearish rejection around the $49.00 – $50.00 area.

Today critical level to watch:

Support: $45.00, $40.00, $38.50

Resistance: $49.00, $50.00