Gold trading near $1,850

There were two bearish closes at the end of the previous week in gold prices. This week, there is no bearish follow-through as gold prices try to move upward. We might see the price keep consolidating near the $1,850 resistance level for now as traders wait for this week’s FOMC meeting.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850, $1,953, $2,000

Silver testing the top of the yellow box area?

Silver prices managed to breakout above the yellow box area and were set to target the $25.00 – $26.00 area. At the current time, the price seems to make a bearish correction and might test the top of the yellow box area. If the price could maintain the level above the area then traders will expect a bullish continuation toward the $25.00 – $26.00 area.

Today Critical levels to watch:

Support: $23.90, $23.00, $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil continue on bullish track

We add a bullish channel on the crude oil daily chart which shows how the price moving upward on the bullish track. The price bounced from the bottom of the channel and formed a bullish pin bar pattern last week. Without any change in the trend, traders will expect the price to continue the bullish movement inside the channel.

Today critical level to watch:

Support: $85.00, $82.72, $80.00

Resistance: $90.00, $100.00