Gold waiting for reaction near $1,900

Last week, gold prices on the path higher and challenged the $1,900 resistance level. The precious metal managed to close above the resistance level. However, on Friday trading session, the price came under pressure and finally closed below the $1,900 level.

Gold might come under pressure this week and continue its movement between $1,850 – $1,900. In the medium-term, the range might span between $1,850 – $1,950 for now.

Today critical levels to watch:

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

Resistance: $1,950, $2,000

Silver hanging at the middle of $21.35 – $25.00

Silver prices continue its upward movement but the price mostly sideways last week. This week, the price might attempt to add more gain and target the $25.00 – $26.00 area. However, if the price start moving lower again and reach $21.35 then traders will prepare for further weakness.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil starts a new bearish trend?

We have a major bearish close last week where the price closed below $38.50. The bearish movement happened as the market jolted by the news that President Trump announced positive for coronavirus. This week, the bearish sentiment might continue to put pressure on the crude oil prices.

If the bearish continuation happens then crude oil is expected to target $33.00 and $30.00.

Today critical level to watch:

Support: $33.00, $30.00

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