Gold set to continue its bullish trend

The direction of gold continues bullish as coronavirus continues to spread and take victims across the world. There is no change in the direction of gold yet for now. Gold might target 2011 high in the medium-long-term. Traders might want to wait until bearish correction to happen before entering long positions.

Today critical levels to watch:

Support: $1,650, $1,625, $1,600

Resistance: $1,700

Silver closed above $18.50

Silver extended its bullish close and manage to secure a close above $18.50. The price set to continue its bullish trend in the short-medium-term. Traders could enter long positions near $18.50 when the price tested it and make a bullish reaction.

Today Critical levels to watch:

Support: $18.50, $18.00, $17.73

Resistance: $20.00

Crude oil closed below $52.40

The rejection of crude oil from $54.50 has brought the price lower and closed below $52.40. It seems the price will continue its bearish movement for now and target $50.00 support level. Traders might want to avoid long positions as crude oil prices closely related to the coronavirus situation in China. Short positions could be considered near $52.40 when the price makes a retest.

Today critical level to watch:

Support: $50.00, $49.00

Resistance: $52.40, $54.50, $55.00