Gold waiting for more bullish pressure

Gold prices continue building bullish pressure and are set to target the $1,850 resistance level. We think it is a matter of time before gold prices will reach the resistance level. If the price starts moving lower again then traders could consider long positions near the $1,800 or the daily SMA 200.

Today critical levels to watch:

Support: $1,800, $1,780, $1,700, $1,680

Resistance: $1,850

Silver building more bullish pressure

The close above the yellow box area in silver prices is confirmation for further bullish movement toward $25.00 – $26.00. If the price moves lower again then traders could use the yellow box area for a chance to enter long positions. A close above $26.00 is needed to confirm long-term bullish continuation.

Today Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil bullish close near $85.00

The direction is upward and yesterday’s bullish close confirms further upside in crude oil prices. If the price could breakout above $85.00 with strong momentum then traders will expect continuation toward $90.00 or $100.00. The same strategy as before, if the price starts bearish movement then $77.13 is the best place for long positions.

Today critical level to watch:

Support: $77.13

Resistance: $82.72, $85.00, $90.00