Gold start a new bullish leg

Gold prices bounced from the daily SMA 200 and currently building more bullish pressure. The price is expected to continue moving upward and target the $1,900 resistance level. Traders will monitor the price reaction near the resistance level. A breakout and close above the resistance level with strong bullish momentum will confirm medium-long term bullish continuation.

Today critical levels to watch:

Support: $1,850, $1,800, $1,780

Resistance: $1,900, $1,953

Silver set to target $23.00 – $23.90

Silver prices continue moving upward after bouncing from the level near $21.35. On the upside, the $23.00 – $23.90 area is the bullish target to watch. Traders who have entered long positions near the $21.35 support level will continue to hold the positions now. If the price forms a major bearish reaction at the $23.00 – $23.90 area then traders will prepare for a bearish continuation.

Today’s Critical levels to watch:

Support: $21.35

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil’s high volatility

Crude oil prices undergo high-volatility trading as the price fall below yesterday’s low with strong momentum. However, the bearish pressure receded and the price managed to reverse the bearish pressure. At the current time, crude oil prices build bullish pressure and are trading above the opening level.

In the long-term, we still think the price will reach the $130.00 resistance level again.

Today’s critical level to watch:

Support: $106.00, $100.00, $95.25, $90.00

Resistance: $130.00