Gold set to test $1,850

The upward movement of gold prices continues and is set to test the $1,850 resistance level soon. A close above the resistance level will open the path toward the $1,900 level. On the other hand, bearish rejection could bring the price down to test the $1,780 – $1,800 area again. Traders will wait near the $1,850 or $1,780 – $1,800 for reactions to enter positions based on the responses.

Today’s critical levels to watch:

Support: $1,850, $1,800, $1,780, $1,700

Resistance: $1,900, $1,950

Silver waiting for confirmation

Silver prices make a bullish recovery before the price could reach the $20.00 support level. If the price continues the upward movement then traders will expect a test on the $21.35 resistance level. A bearish rejection from the level will confirm a bearish continuation toward the $20.00 support level. On the upside, a close above $21.35 will bring the price back to its bullish track toward $23.00 – $23.90 area.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil waiting near $77.13

Crude oil prices stick near the $77.13 level and the triangle area. The price might continue consolidating near the level and waiting for a breakout. Traders will wait for the next higher high or lower low to get confirmation on the price next direction. On the lower side, $70.00 will become the bearish target to watch. Meanwhile, $100.00 is the bullish target.

Today’s critical level to watch:

Support: $77.13, $70.00

Resistance: $80.00, $85.00, $90.00, $95.25