Gold bullish toward $2,000

Gold price experienced bullish pressure today after consolidating near $1.953. This upside had good bullish momentum and might quickly reach the $2,000 point. If prices can surpass the $2,000 mark and then form higher swing highs then the bullish trend may continue. However, if the price reverses sharply and closes below $1,953 then the downside move could continue towards $1,900 and the daily SMA 200.

Today’s critical levels to watch:

Support: $1,950, $1,900, $1,850

Resistance: $2,000, $2,069, $2,074

Silver testing the $25.00 – $26.00

Silver price is trying to move up and enter the $25.00 – $26.00 area. The price movement is likely to be flat near that area and traders will be waiting for further reactions. The price trend is bullish so short positions are not recommended. However, if a dip occurs then traders can wait near the $23.00 – $23.90 area for long positions.

Today’s Critical levels to watch:

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

Resistance: $25.00, $26.00

Crude oil bullish reversal?

The bearish reaction from $77.13 brought crude oil prices down for 2 days. However, the decline has now stopped and the price reversed upwards at this time. As mentioned in the previous analysis, when the price closes above the trendline and also the $77.13 point, the bullish trend can continue.

Today’s critical level to watch:

Support: $70.00, $65.00

Resistance: $77.13, $80.00, $85.00