Gold to target all-time high

Gold had an impressive week where the price jumped from $1,800 and closed near $1,900. The precious metal now really near the all-time high $1,919 which printed in 2011. The bullish pressure expected to continue this week but we might see a bearish correction in the gold prices soon.

Traders will monitor the price reaction near the all-time high. If there is a major bearish reaction then traders could consider entering short positions.

Today critical levels to watch:

Support: $1,850, $1,800

Resistance: $1,900, $1,919.90

Silver building more bullish pressure toward $25.00 – $26.00

Silver prices maintain its bullish pressure above the $21.35 level. The precious metal expected to continue its bullish movement and target $25.00 – $26.00 area. At the current time, if the price moves lower toward $21.35 and $20.00 then traders could consider entering long positions.

Today Critical levels to watch:

Support: $21.35, $20.00, $18.50

Resistance: $25.00, $26.00

Crude oil waiting for a further clue

The overall trend of crude oil is bullish but no strong progress in the previous week. The price expected to continue moving near the current level and $38.50 – $40.00 area. Similar to the previous analysis, as long as there is no close below $38.50, it is safe to assume that the price will continue moving further higher.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00