Gold closed at $1,850

Gold prices could not continue the bullish movement last week. At the end of the week, the price pushed lower and closed near the $1,850 support level. This week, gold prices might continue trading near the support level and waiting for further reactions. If the price could bounce from the support level, traders could expect a continuation toward the $1,900 resistance level.

Today critical levels to watch:

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

Resistance: $1,900, $1,953

Silver set to retest $21.35?

Silver prices made a bearish close at the end of the week and might trigger a bearish movement to retest the $21.35 level. Previously, traders are waiting for the price to reach the $23.00 – $23.90 area and form a bearish reaction. This week, traders will wait for a test on $21.35 and a bullish reaction. If a bullish reaction happens then traders could enter long positions with an expectation of a rally toward the $23.00 – $23.90 area.

Today’s Critical levels to watch:

Support: $21.35

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

Crude oil extends bullish close

The upward pressure on crude oil prices has not stopped yet. The price made another bullish close near the high and is expected to continue moving upward to target $130.00. There is no change to the strategy traders could use. Traders will wait for bearish correction for a chance to enter long positions.

Today’s critical level to watch:

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

Resistance: $130.00