Gold opened higher, target $1,780

The world is observing the development of coronavirus. It seems pessimism starts to grow as new cases continue to increase. The pessimism on economy recovery means gold prices will continue moving higher. Today, gold prices opened higher and keep pressuring upward. Without a change in the sentiment, gold prices might reach $1,780 target soon.

Today critical levels to watch:

Support: $1,700, $1,680, $1,650

Resistance: $1,750, $1780

Silver bullish pressure above $17.50 – $17.73

The price of silver gaining in today’s trading session and crossed above $17.50 – $17.73 resistance. However, the bullish movement starts to lose momentum. Silver prices currently traded near the previous day high and might attempt to close inside $17.50 – $17.73 range.

On the medium-long-term outlook, we still think the price will continue moving upward and test $18.50 resistance level.

Today Critical levels to watch:

Support: $17.50, $17.00, $16.80

Resistance: $17.73, $18.00, $18.50

Crude oil testing the $40.00 resistance

Crude oil continue putting bullish pressure toward $40.00 resistance level. No breakout yet at the current time. Traders will wait for a further reaction from the resistance level before placing long-term positions. If the price rejected with a strong bearish pattern then traders could enter short positions.

Today critical level to watch:

Support: $33.00, $30.00

Resistance:  $40.00