Gold on the path higher

The overall movement of gold continues pointed to the upside after the previous week bounce from $1,700 support level. This week, traders could expect further upside movement toward $1,780 target level. Without any major bearish reaction, it is better to continue to hold long positions for now.

Today critical levels to watch:

Support: $1,700, $1,680, $1,650, $1,600

Resistance: $1,750, $1780

Silver major bullish close above $16.00

Silver prices made strong bullish close, jumped from below $16.00, and closed above $16.50. The precious metal is not far from the $16.80 resistance level. It is expected to extend its bullish movement and reach $16.80 – $17.00 area this week. Without major bearish reaction, traders might want to avoid taking short positions for now.

Today Critical levels to watch:

Support: $16.50, $16.00, $15.60

Resistance: $16.80

Crude oil further bullish pressure

The bullish pressure of crude oil halted near $25.00 handle but it resumed at the end of the previous week. Crude oil closed at $29.71 which is not far from $30.00. This week, the price expected to test $30.00 and continue its upward movement. We have the bearish gap around $40.00 as the upside target.

Today critical level to watch:

Support: $25.00, $22.00, $20.00

Resistance: $30.00, $33.00, $40.00