Gold target $1,950

Gold prices hanging at the top and are set to continue the upward movement toward the $1,950 resistance level. If the price makes a bearish correction then it is a chance for traders to enter long positions near the support level. The nearest level to watch is $1,900. On the other hand, further weakness could bring the price down toward the $1,850 level where traders could also enter long positions.

Today’s critical levels to watch:

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

Resistance: $1,900

Silver stick inside $23.00 – $23.90 area

The consolidation inside the $23.00 – $23.90 has not resulted in a major breakout yet. Silver prices continue trading inside the area and traders will continue waiting for further reactions. We think the consolidation will continue but traders could prepare for a bullish continuation toward the $25.00 – $26.00 area. If the price reaches the bottom of $23.00 – $23.90 area then traders could enter long positions.

Today’s Critical levels to watch:

Support: $23.90, $23.00, $21.35

Resistance: $25.00, $26.00

Crude oil time for bullish continuation?

Crude oil prices continue to add more bullish pressure and might start a new bullish leg. At the current time, traders who have long positions will continue to hold the position with a stop below $77.13. As long as the price continues to stay above $77.13 and prints a new higher high and higher low then the bullish trend will continue. On the other hand, if the price falls below $77.13 and prints a new lower low then the trend will turn bearish.

Today’s critical level to watch:

Support: $77.13, $70.00

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