Gold set to test $1,900 resistance level

Gold price closed near $1,900 at the end of the year which shows not breakout yet. The precious metal is expected to build more bullish pressure to test the $1,900 resistance level at the beginning of the year. As long as there is no major bearish rejection from the $1,900 resistance and lower low printed then traders will continue to hold long positions.

Today critical levels to watch:

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

Resistance: $1,900, $2,000

Silver retest $26.00

The price closed above the $25.00 – $26.00 area and near the $26.00. Silver is expected to retest the $26.00 level at the beginning of the year and bounce from it. Traders could use the moment to add long positions when a bullish reaction happens from the $25.00 – $26.00 area.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35, $20.00

Resistance: $27.00, $30.00

Crude oil target the level above $49.00 – $50.00

At the end of the previous year, crude oil prices closed below the $49.00 – $50.00 area. There is no conclusion yet on crude oil’s next direction. The price might continue moving upward and test the $49.00 – $50.00 area at the start of this year. If a bearish correction happens then traders could consider adding more long positions near the $45.00.

Today critical level to watch:

Support: $45.00, $40.00, $38.50

Resistance: $49.00, $50.00