Gold closed near the $1,950

Gold prices extended the bullish movement and closed near the $1,950 resistance level. The precious metal is currently under bearish pressure but expected to continue the upward movement as the Russia-Ukraine conflict unsettled. There is testimony by the Fed Jerome Powell and the U.S job data announcement this week. Traders will monitor closely the result and the market reaction to determine the next direction.

Today critical levels to watch:

Support: $1,900, $1,850, $1,800, $1,780

Resistance: $1,953, $2,000

Silver closed inside $25.00 – $26.00 area

Silver prices finally made a bullish close inside the $25.00 – $26.00 area. The price might continue building upward pressure and eventually close above the $26.00 handle. The war issue and inflation will continue to boost silver prices and traders should stay with long sides.

Today Critical levels to watch:

Support: $25.00, $23.90, $23.00

Resistance: $26.00

Crude oil surpassed $100.00

Silver prices broke and close above $100.00 handles yesterday. The price continues the upward movement today and there is no bearish sign. Traders who have long positions will continue to hold the position and adjust stops to protect positions. If a bearish correction happens then traders could wait near the $100.00 for a chance to enter more long positions.

Today’s critical level to watch:

Support: $100.00, $90.00

Resistance: –