Gold major bullish close near $1,950

We have a major bullish jump in gold prices yesterday as the price closed near $1,950. It means the price might continue its bullish movement and breakout above $1,950 and target the $2,000 handle. However, there is no bullish follow-through yet today.

Traders who have long positions could continue to hold their positions. Meanwhile, traders might want to avoid short positions for now as the bullish momentum is strong.

Today critical levels to watch:

Support: $1,900, $1,850, $1,800, $1,780

Resistance: $1,950, $2,000

Silver close inside the $25.00 – $26.00 area

Silver managed to close inside the $25.00 – $26.00 area and indicating further bullish movement in the coming days or weeks. At the current time, traders will assume the price will consolidate inside the $25.00 – $26.00 area while waiting for a bullish breakout.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

Resistance: $26.00

Crude oil consolidated near $38.50 – $40.00

No bullish continuation in crude oil prices as the price made bearish close yesterday. It seems the price will start another consolidation near the $38.50 – $40.00 area again. However, traders might want to be careful as the $38.50 – $40.00 currently act as a resistance area. If the price adds more bearish momentum then we might see bearish continuation.

Today critical level to watch:

Support: $33.00, $30.00

Resistance: $38.50, $40.00, $49.00, $50.00