Gold major bullish leap

Gold prices made a major bullish jump at the end of the previous week. The price sharply higher and surpass the bearish engulfing pattern high. This week, the precious metal is expected to continue its bullish movement and target the $1,950 resistance level.

If there is no major bearish bearish reaction then gold is expected to extend the bullish movement toward $2,000.

Today critical levels to watch:

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

Resistance: $1,950, $2,000

Silver closed at $25.00 – $26.00 area

Silver continues its bullish movement and closed significantly higher on Friday. The price closed near $25.00 – $26.00 area and suggest further bullish movement this week. If the price is stuck below $26.00 then traders will expect consolidation inside the $25.00 – $26.00 area before the next movement.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil waiting for further clue near $38.50 – $40.00

The price made a bullish attempt above $38.50 – $40.00 but no higher high printed on the chart yet. This week, traders will expect crude oil to continue its movement near $38.50 – $40.00 with a bullish bias. Traders who have long positions could continue to hold it until there is a major bearish reversal below $38.50 happens.

Today critical level to watch:

Support: $40.00, $38.50, $33.00, $30.00

Resistance: $49.00, $50.00