Gold waiting inside $1,953 – $2,000

Gold prices are trying to move up, following the weakening of the U.S. dollar index. Although bullish, the price seems to be having difficulty breaking through the $2,000 mark. In the medium to long term, the trend of gold prices is bullish and the U.S. dollar index has the potential to weaken further. However, taking a long position at the current point is a strategy of buying at the resistance point. Traders should wait for a decline to $1,953 for an opportunity to enter a long position.

Today’s critical levels to watch:

Support: $1,950, $1,900, $1,850, $1,800

Resistance: $2,000, $2,069, $2,074

Silver return above $23.00

Silver prices saw an increase today after the release of US employment data which was below expectations. Silver price will try to continue its bullish movement towards $23.90. If the bullish trend continues then the $25.00 – $26.00 area will be the next upside target.

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil target $77.13

The breakout of crude oil prices from the triangle pattern has provided confirmation for the next direction of movement. The price of crude oil is on a downward path towards $77.13 and there has been no change at this time. Traders will continue to wait for the price to reach that point for the opportunity to enter a long position.

Today’s critical level to watch:

Support: $85.00, $80.00

Resistance: $90.00, $95.00w