Gold bullish close above $1,780
Gold prices building bullish pressure and closed above $1,780 yesterday. The price currently back inside the $1,780 – $1,800 area. If the price could build more bullish pressure then we might see a breakout and bullish continuation above $1,800.
Today critical levels to watch:
Support: $1,780, $1,750, $1,700, $1,680
Silver launched above $26.00
The price of silver finally bounce from $26.00 and formed a major bullish close yesterday. It seems the bullish continuation secured and the price expected to resume the movement to target $31.50. Traders who have entered long positions near $25.00 – $26.00 could continue to hold the positions for now.
Today Critical levels to watch:
Support: $26.00, $25.00, $21.35, $20.00
Resistance: $27.00, $30.00, $31.50
Crude oil testing $65.00
Crude oil prices printed higher high today which might become initial confirmation for a further bullish trend. Traders will monitor the closing level of crude oil today to determine if the resistance level has been broken or not. On the upside, $70.00 is the next target.
Today critical level to watch:
Support: $60.00, $57.60, $55.80, $54.50
Resistance: $65.00, $67.20, $70.00