Gold maintains its position above $1,850

Gold prices have managed to rise above $1,850 but did not see further increases in yesterday’s trading. Consolidation is likely to take place near this point before the next move. If the price can continue rising then the $1,900 point will be the upward target. Conversely, if the price falls below $1,850 again with strong bearish momentum then the bearish trend may continue.

Today’s critical levels to watch:

Support: $1,850, $1,800

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

Silver waiting for more bullish pressure

Silver’s price return to above $21.35 is bullish. Currently, the price has not resumed its increase and is likely to consolidate near $21.35. If the price can continue its bullish movement then the $23.00 – $23.90 area is an upside target.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil ranging near $85.00

The increase in crude oil prices at the beginning of this week has not gained further bullish momentum. The price is trading near the $85.00 mark and awaiting further reaction. If the price can continue its upward movement then the $90.00 point is the closest upside target. Conversely, if the price falls below $85.00 again then the bearish correction may continue towards $77.13.

Today’s critical level to watch:

Support: $85.00, $80.00

Resistance: $90.00, $95.00