Gold testing $1,950

Gold price made another bullish close yesterday near the $1,950 resistance level. The price is set to test the resistance level and stick near it for now. If a bullish breakout happens then the gold price is expected to continue toward $2,000. On the other hand, if a bearish correction happens then $1,900 will become the target.

Today critical levels to watch:

Support: $1,900, $1,850, $1,800, $1,780

Resistance: $1,950, $2,000

Silver testing previous month high

Silver price bounces from the orange box area and currently testing the previous month’s high. If the price could continue further upward then $30.00 and $31.50 will become the next targets. Traders could consider entering long positions when a bearish correction happens toward $25.00 – $26.00.

Today Critical levels to watch:

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

Resistance: $27.00, $30.00, $31.50

Crude oil closed near $50.00

Crude oil price formed a strong bullish close after the first day bearish close this year. The bullish movement has strong momentum and is expected to continue upward above $50.00. At the current time, crude oil price might consolidate between $49.00 – $50.00 while waiting for a trigger to move.

Today critical level to watch:

Support: $49.00, $45.00, $40.00, $38.50

Resistance: $50.00, $52.40