Gold target $1,800

The bullish movement of gold prices managed to close above $1,780 resistance level yesterday. The precious metal now getting near $1,800 handle and soon will test it. We think the price could continue higher in the long-term. At the current time, traders will wait for gold reaction inside the $1,780 – $1,800.

If the price gets rejected and closed below $1,780 with strong bearish momentum then traders will prepare for a bearish correction.

Today critical levels to watch:

Support: $1780, $1,750, $1,700

Resistance: $1,800

Silver maintains the bullish pressure toward $18.50

Yesterday, silver prices experienced a pullback and traded near the Tuesday low. Fortunately, silver prices managed to recover and return to its opening level by the end of the day. Silver prices expected to continue its bullish movement and reach the $18.50 resistance level.

Traders will wait for the price reaction near the resistance to determine the precious metal direction next.

Today Critical levels to watch:

Support: $18.00, $17.73, $17.50

Resistance: $18.50, $20.00

Crude oil, less volatility

Crude oil prices stuck near the $40.00 resistance level. The volatility slowly dies as the price continues consolidation near the level. Not much to expect at the current time. It is better to wait further before placing any major positions. As long as crude oil could maintain the bullish pressure above the previous swing low around $37.00, there is chance for further bullish movement.

Today critical level to watch:

Support: $38.50, $35.00, $34.36

Resistance:  $40.00