Gold closed above $1,850

Gold prices closed above the $1,850 level at the end of the previous week. It seems the bullish movement still has some leg and could continue toward the $1,900 resistance level next. However, if the price gets rejected and close below the $1,850 level then traders will expect another bearish attempt toward the $1,780 – $1,800 area.

Today’s critical levels to watch:

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

Resistance: $1,900, $1,950

Silver bearish reaction from the level near $21.35

The upward movement of silver prices finally reached a level near $21.35. There is a bearish reaction from the level near it today which could become a sign of bearish continuation. If the price continues the bearish movement then $20.00 will become the bearish target to watch. On the upside, a close above $21.35 will open the path toward the $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 closed above the triangle pattern?

Crude oil prices built more bullish pressure last week and might have closed above the top of the triangle. However, the price currently undergoes bearish pressure and trades back inside the triangle area. Traders will monitor the price reaction inside the triangle area. If the price could continue to print more bullish close above the triangle then it could continue the bullish trend.

Today’s critical level to watch:

Support: $77.13, $70.00

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