Gold challenging $1,950

Joe Biden announced as the winner of the U.S presidential election. It was reflected in the U.S dollar index movement which weakens significantly. At the current time, the market now expects the U.S dollar to weaken and it will open room upside for gold prices.

Gold prices is testing the $1,950 resistance level. If a bullish breakout happens then traders will prepare for further upside toward $2,000.

Today critical levels to watch:

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

Resistance: $1,950, $2,000

Silver moving inside the $25.00 – $26.00

Silver managed to close inside the #25.00 – $26.00 area last week. The price currently continues its bullish movement and testing the $26.00 resistance level. If a breakout happens then silver could continue its long-term bullish trend. Without any breakout, the price is expected to continue ranging inside the $25.00 – $26.00 area.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

Resistance: $26.00

Crude oil maintain the level near the $38.50 – $40.00 area

Crude oil released part of its gain and settle below the $38.50 – $40.00 area. The price seems will return to its consolidation near the level for now. Without any major momentum movement from the area, traders might want to stay sideline.

Today critical level to watch:

Support: $33.00, $30.00

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