Gold extends the bullish movement

Gold prices are unstoppable after the previous week’s jump at the end of the week. Traders seem moving out of the U.S. dollar and keep pushing its counterpart up. Under the current situation, gold prices might continue upward to target the $1,900 handle. If the price manages to reach the level and form a bearish reaction then traders could use the moment to enter short positions with $1,850 as a target. However, in the long-term traders will stick to long positions and enter more positions when a bearish correction happens.

Today’s critical levels to watch:

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

Resistance: $1,850, $1,900

Silver stick near $23.90

The movement of silver prices mostly contained between the $23.00 – $23.90 area. There was no major breakout and close outside of the range yet. At the current time, the price stick near the top of the range and will attempt to break out. Without any breakout, traders will continue to apply range trading strategies with a bullish bias.

Today’s Critical levels to watch:

Support: $23.90, $23.00, $21.35

Resistance: $25.00, $26.00

Crude oil returned to $77.13

Crude oil prices breakout and closed below the $77.13 level confirming further weakness toward $70.00. However, the price currently makes a bullish attempt and soon will reach the $77.13 level. If the price forms a major bearish reaction near the $77.13 level then traders could enter short positions with $70.00 as a bearish target. On the other hand, a bullish close above $77.13 which is followed by a new higher high will confirm a bullish continuation.

Today’s critical level to watch:

Support: $77.13, $70.00

Resistance: $80.00, $85.00, $90.00, $95.25