Gold set to test $1,900

Gold price continue its bearish close yesterday and maintained the level between $1,900 – $1,950. There is no bullish sign yet today and the price soon will test at $1,900. If the price could continue to stick above $1,900 then traders will expect a bullish bounce to happen.

Today critical levels to watch:

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

Resistance: $1,950, $2,000

Silver hanging above $26.00

Silver price trend is bullish and expected to continue moving upward to target $30.00 and $31.50. If the price makes a bearish correction toward $26.00 then traders could use the moment to enter long positions on bullish reaction. Traders will avoid short positions for now as it might be a temporary reaction only.

Today Critical levels to watch:

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

Resistance: $27.00, $30.00, $31.50

Crude oil range between $50.00 – $52.40

Saudi Arabia decided to cut production by 1 million barrels per day. The decision helped crude oil to climb above $50.00 and enter the range $50.00 – $52.40. The price is expected to continue its bullish movement and target $52.40 next. Above the level, there is $54.50 – $55.00 area to watch.

Today critical level to watch:

Support: $50.00, $49.00

Resistance: $52.40, $54.50, $55.00