Gold contained inside $1,850 – $1,900

The upward movement of gold prices limited below $1,900 and continue its ranging movement between $1,850 – $1,900. No breakout yet from the range and traders will continue to observe the price movement. If gold could close below $1,850 then traders will expect bearish continuation toward $1,780 – $1,800.

Today critical levels to watch:

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

Resistance: $1,900, $1,950, $2,000

Silver holding out near $25.00

The price continues making higher close toward the $25.00 resistance level. Yesterday, it managed to touch the resistance level but no breakout yet. Silver expected to continue its consolidation near $25.00 while waiting for further reaction.

Traders could see a triangle pattern on the chart where the price is expected to consolidate for now.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil bounce from $40.00

The price of crude oil managed to close higher yesterday after the bounce from the $40.00 handle. There is no bullish follow-through yet today. If the bull could print further higher close today then crude oil expected to continue moving upward. However, if the price start moving lower again then $38.50 – $40.00 will continue to become the level where the price stick.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00