Gold closed near $2,000

Gold prices are in a bullish run and there is no sign of stopping yet. The price has closed near the $2,000 handle and will test it. Traders will continue waiting for a bearish correction to enter a long position near a support level. On the upside, there is potential that gold prices will reach a new All-time high but a correction might be due.

Today critical levels to watch:

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

Resistance: $1,953, $2,000

Silver trade inside $25.00 – $26.00

Silver prices managed to reach the $26.00 handle and show a slight bearish rejection. It could be a profit-taking reaction and the price will continue the upward movement. If the price could close above $26.00 then traders will have a long-term bullish confirmation. On the downside, $25.00 is the level to watch. A close below the level might trigger bearish movement toward the $23.00 – $23.90 area.

Today Critical levels to watch:

Support: $25.00, $23.90, $23.00

Resistance: $26.00

Crude oil bullish gap

Crude oil prices opened the week with a bullish gap and reach as high as $130.00. The price bullish pressure is expected to continue as there is no resolution between Russia – Ukraine. Traders will continue to hold long positions for now and wait for a bearish correction to enter more long positions near support levels.

Today’s critical level to watch:

Support: $100.00, $90.00

Resistance: $130.00