Gold more bullish pressure above $1,800

We have further bullish close last week as gold surpassed $1,780 and closed near $1,800. The precious metal bounced from the $1,800 level today. It has not moved above Friday high at the current time. Traders who have long positions could continue to hold it and waiting for the movement above the previous week’s high.

Today critical levels to watch:

Support: $1,800, $1780, $1,750

Resistance: $1,850

Silver adding more bullish pressure

The bullish pressure of silver prices managed to close above $18.50 resistance level last week. This week, the precious metal continues to put more bullish pressure and currently challenging the previous week’s high. If the price could maintain its bullish pressure then we might see silver traded near $20.00 soon.

Today Critical levels to watch:

Support: $18.50, $18.00, $17.73

Resistance: $20.00

Crude oil return above $40.00

Crude oil initially under pressure and fell below $40.00. However, the price found support at $38.50 and bounced from it. The bounce from $38.50 brought the price to close above $40.00 at the end of the week. It means, no breakout and the price will continue its consolidation near $40.00 for now.

Traders might want to continue to observe the price reaction near $38.50 – $40.00 at the current time until momentum movement formed.

Today critical level to watch:

Support: $38.50

Resistance: $40.00, $50.00