Gold waiting for more bullish momentum

The upward movement of gold prices is expected to reach the $1,900 resistance level soon. At the current time, the price is consolidating not far from the resistance level. It is better to continue holding long positions for now. If the price makes a bearish correction then traders could use the $1,850 and daily SMA 200 as levels to enter long positions.

Today critical levels to watch:

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

Resistance: $1,900, $2,000

Silver trading sideline

Silver prices are supported by the trendline. However, there is no bullish bounce from the trendline yet. It seems the price will continue consolidation for now before continuing its bullish movement toward $31.50. No change yet to the outlook, traders will continue to hold long positions or waiting for a bearish correction toward $26.00 to enter more long positions.

Today Critical levels to watch:

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

Resistance: $30.00, $31.50

Crude oil second bullish close

Crude oil prices managed to print another bullish close and above $65.00. The price is expected to continue moving upward and test the top of the yellow box area. Similar to the previous analysis, we think the price could reach the $70.00 resistance level and will continue to hold long positions for now.

Today critical level to watch:

Support: $65.00, $60.00, $57.60, $55.80, $54.50

Resistance: $67.20, $70.00