Gold waiting for bullish pressure

Gold prices are expected to continue the bullish trend and target a level above $2,000. At the current time, the price is trading near the $1,953 level and will continue to maintain the position above the level. If the price starts moving lower then traders could use the $1,900 level as a place to enter long positions. As long as there is no lower low printed on the chart, there is no strong reason to enter short positions.

Today’s critical levels to watch:

Support: $1,900, $1,850

Resistance: $1,950

Silver extends bullish movement toward $23.90

The upward movement of silver prices continues above the $23.00 level and soon will reach the $23.90 resistance level. We think the price could continue the bullish movement and target the $25.00 – $26.00 area next. However, if the price undergoes a bearish correction then traders could enter long positions near the $23.00 or $21.35 support levels.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil moving toward $77.13

The direction of crude oil prices is bullish following the weakness in the U.S. dollar. It seems the price will attempt to continue moving upward to test the $77.13 level. If the price could close above the level then we could see a new bullish trend. On the other hand, major bearish rejections from $77.13 might confirm bearish movement to target a new lower low.

Today’s critical level to watch:

Support: $77.13, $70.00

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