Gold continues upward

Gold prices experienced further bullish pressure and reached the $1,900 level yesterday. The precious metal extends the bullish movement today and might close above the $1,900 level. If there is no major bearish reaction then the price could continue upward to target $1,950 and $2,000. On the other hand, if the price makes a bearish correction then traders could wait near the $1,850 support level for a chance to enter long positions.

Today’s critical levels to watch:

Support: $1,850, $1,800, $1,780, $1,700

Resistance: $1,900

Silver more consolidation inside $23.00 – $23.90

Silver prices continue the movement inside the $23.00 – $23.90 area and traders will continue waiting for a close outside of the area. If the price could close above $23.90 at the end of the week then the price could continue moving upward to target the $25.00 – $26.00 area next week. On the other hand, without a close above $23.90 then the price will continue consolidation inside the $23.00 – $23.90 area.

Today’s Critical levels to watch:

Support: $23.90, $23.00, $21.35

Resistance: $25.00, $26.00

Crude oil maintains bullish pressure

Crude oil prices have made a close above $77.13 and currently maintaining the bullish pressure above it. The price could continue moving upward and print a new higher high to reverse the current bearish trend. However, a close below $77.13 will confirm a bearish continuation to test the $70.00 support level. Traders could use the $77.13 level as a place to enter long positions with tight stops below it.

Today’s critical level to watch:

Support: $77.13, $70.00

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