Gold testing $1,850

A bullish reversal occurred in the price of gold which moved up significantly and reached $1,850. The price of gold increased along with the conflict between Israel and Hamas. If this issue spreads and becomes bigger then the price of gold will still be able to move up quickly to the next resistance point.

Today’s critical levels to watch:

Support: $1,800

Resistance: $1,850, $1,900, $1,950, $2,000, $2,069, $2,074

Silver return above $21.35

Silver prices managed to climb back up and closed above $21.35. The bullish state continued in this week’s trading but has returned to its opening point. The silver price situation is likely to be able to sustain above the $21.35 level and traders will be watching the development of the situation. If the price continues strengthening then the $23.00 – $23.90 area will be an upside target.

Today’s Critical levels to watch:

Support: $20.00

Resistance: $21.35, $23.00, $23.90, $25.00, $26.00

Crude oil bullish reversal?

The upward spike occurred in the price of crude oil which is now trading near $85.00. The ongoing bearish correction towards $77.13 has temporarily stalled. If prices can continue rising and erase all the losses that occurred last week then things will become bullish again.

Today’s critical level to watch:

Support: $85.00, $80.00

Resistance: $90.00, $95.00