Gold is heading toward $1,900

Gold prices burst above the $1,850 level and are currently on the path toward $1,900. The bullish movement has strong momentum and soon will reach the resistance level. Traders will monitor the price reactions near the resistance level. If the price breaks and close above $1,900, the current upward movement might continue to challenge the previous swing high.

On the other hand, if the price starts a bearish movement then traders could wait near the $1,850 level for bullish reactions to enter long positions.

Today’s critical levels to watch:

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

Resistance: $1,900, $1,950

Silver bounced from $20.00

The bullish movement of silver prices from the $20.00 support level is expected to continue and reach the $21.35 resistance level. If the price could close above the level then there is a chance of continuation toward the $23.00 – $23.90 and $25.00 – $26.00 resistance area.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil rejection from $77.13

Crude oil prices experience major bearish reactions today from the $77.13 level. However, there is no breakout from the triangle area on the daily chart which means the consolidation inside the triangle area and near $77.13 will continue. Traders will wait for the closing level outside of the range to confirm the next direction.

Today’s critical level to watch:

Support: $77.13, $70.00

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