Gold set to reach $1,900

Gold prices continue to add more bullish close on the daily basis. The price soon will reach $1,900 resistance level and test it. We expect the price to continue its bullish movement toward $1,953.67 then $2,000. Traders who have long positions could continue to hold the positions and wait for a bearish correction to add more long positions.

Today critical levels to watch:

Support: $1,850, $1,800, $1,780

Resistance: $1,900, $2,000

Silver supported at the trendline

Silver prices corrected lower last week toward the trendline. The price managed to close the week near the trendline. This week, we will expect a bounce from the trendline and silver price to continue its bullish movement to target the $31.50 resistance level.

Today Critical levels to watch:

Support: $27.00, $26.00, $25.00, $21.35, $20.00

Resistance: $30.00, $31.50

Crude oil closed inside the yellow box area

Last week, crude oil prices fell and closed below the yellow box area. Fortunately, the bearish close immediately reversed and the price could close inside the yellow box area at the end of the week. It means a false bearish breakout happened and silver has more potential to continue its bullish movement this week.

Today critical level to watch:

Support: $60.00, $57.60, $55.80, $54.50

Resistance: $65.00, $67.20, $70.00