Gold ranging inside $1,900 – $1,950

Gold prices managed to bounce from the $1,900 support level and slowly move upward toward the $1,950 resistance level. The price might continue trading sideways inside the $1,900 – $1,950 range for now. Traders will wait for a breakout and close outside of the range to get confirmation on the next direction.

Today critical levels to watch:

Support: $1,900, $1,850

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

Silver stick near $25.00

Silver prices bounced from the yellow box area and moved upward. The price is trading near the $25.00 handle and waiting for further reaction. If the price could close above the $25.00 level then there is a chance of bullish continuation to retest $26.00. Traders will wait for the closing level at the end of the week to get better confirmation.

Today’s Critical levels to watch:

Support: $25.00, $23.90, $23.00

Resistance: $26.00, $27.50

Crude oil was slightly lower below $106.00

Crude oil prices are under pressure today after the rejection from the $106.00 level. Despite the situation, the price does not print a lower low yet which means there is a chance of a bullish reversal. If the price could move higher and close above $106.00 at the end of the week then there is a chance of bullish continuation.

Today’s critical level to watch:

Support: $100.00, $90.00

Resistance: $106.00, $130.00