Gold consolidating between $1,850 – $1,900

Gold prices movement was under pressure and the price managed to test $1,850 last week. We have a bounce from the level and the price also tested the $1,900 level. At the current time, gold prices seem will consolidate between $1,850 – $1,900 and traders will wait for a breakout from the range to get the next direction confirmation.

If the price continues lower then the daily SMA 200 expected will become a major support level which gold prices bounce from.

Today critical levels to watch:

Support: $1,850

Resistance: $1,900, $1,953, $2,000, $2,074.69

Silver extend bearish movement below $23.00

The bearish movement of silver prices broke below $23.00. There was a bullish attempt toward the level but the price got rejected from the broken level. Lower low is printed on the chart and silver prices are set to target the $21.35 support level. Traders will wait until the bearish pressure receded and enter long positions near the support levels.

Today’s Critical levels to watch:

Support: $21.35

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

Crude oil resumes bullish trend

Crude oil prices continue the climb and close above $106.00 last week. We have a higher swing high printed on the chart which means the bullish trend is set to continue. As long as there is no bearish reversal and a close below $106.00 at the end of the week then the price could continue upward to target the $130.00 resistance level.

Today’s critical level to watch:

Support: $95.25, $90.00

Resistance: $100.00, $106.00, $130.00