Gold ready to test $1,900

The upward movement of gold continues for the fifth day. Today, there is more bullish pressure but no higher high printed yet on the chart. Nevertheless, gold prices soon will reach the $1,900 resistance level and test it. If there is no major bearish reaction from the resistance level then gold might target the all-time high at $1,919.90

Today critical levels to watch:

Support: $1,850, $1,800

Resistance: $1,900, $1,919.90

Silver waiting for more bullish momentum

No bullish continuation yet in the silver prices yesterday. The price closed lower but not a significant bearish close. At the current time, silver will wait for a further clue in the next direction. Without major bearish close on the daily chart, silver expected to extend its bullish movement toward $25.00 – $26.00 resistance area.

Today Critical levels to watch:

Support: $21.35, $20.00, $18.50

Resistance: $25.00, $26.00

Crude oil bearish engulfing pattern

We have a bearish engulfing pattern formed yesterday in the crude oil prices. There is no bearish follow-through yet in today’s trading session. Not much change yet in the price direction which continues moving higher slowly. As long as there is no breakout and close below $38.50, traders could continue to maintain the bullish outlook.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00