Gold hanging near $1,950

The upward movement of gold prices does not continue today. Gold prices are stuck near the $1,950 level and will wait for further development. We think the bullish trend will continue with a target above $2,000 and the previous swing high. However, if the price start moving lower again and close below $1,900 then the bearish movement could continue toward $1,850 and $1,800.

Today critical levels to watch:

Support: $1,900, $1,850

Resistance: $1,953, $2,000, $2,074.69

Silver resume bullish movement above $26.00?

Siver prices launched upward above the $25.00 handle. The price getting near the $26.00 handle and expected to test it soon. A close above the level will confirm the continuation of the bullish trend. If the price is stuck near the resistance level and gets rejected then the consolidation between $25.00 – $26.00 will continue.

Today Critical levels to watch:

Support: $25.00, $23.90, $23.00

Resistance: $26.00, $27.50

Crude oil time for a bearish correction?

Crude oil prices climbed above $100.00 and $106.00. The price seems will continue the bullish trend and target the $130.00 handle. However, the price is currently under bearish pressure and might move down to retest the $106.00 and $100.00 levels. Traders will prepare to enter long positions when retests happen and there is a major bullish pattern formed.

Today’s critical level to watch:

Support: $106.00, $100.00, $90.00

Resistance: $130.00