Gold on the path upward

There was a bullish close yesterday where gold climbed and closed near the previous week high. However, there is no bullish continuation today, the price starts moving lower again and might retest the $1,900 handle. At the current time, the price is trading inside the previous day range.

If there is a bullish continuation in gold prices then traders will expect $1,950 reached soon.

Today critical levels to watch:

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

Resistance: $1,950, $2,000

Silver closed near $25.00

Silver managed to add gain yesterday as the price closed near $25.00. At the current time, the price continues testing the resistance level and looking for a breakout. If silver prices could close above $25.00 then we might see the start of consolidation between $25.00 – $26.00.

On the other hand, if massive bearish rejection happens then silver might start moving lower to target $21.35 and $20.00.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil return inside $38.50 – $40.00 area

There is no bullish continuation in crude oil prices. The price closed lower yesterday inside the $38.50 – $40.00 area. Traders will continue waiting for further reaction at the current time. Long positions from the $38.50 – $40.00 area could be considered with stop below September low.

Today critical level to watch:

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

Resistance: $49.00, $50.00