Gold maintains the positions near $1,900

This week has been a flat week for gold as the price moving up and down near $1,900. Yesterday the price closed near $1,900 and might close the week near it. Traders who have long positions could continue to hold the positions with a stop below $1,900. Meanwhile, a close below $1,900 might become the indication that the precious metal will start another bearish leg toward the $1,850, and $1,780 – $1,800 area.

Today critical levels to watch:

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

Resistance: $1,950, $2,000

Silver stick near $25.00

There was a bearish reaction from the $25.00 handle yesterday. Silver prices closed lower but no indication that the price will start a new bearish leg. It seems the price will close the week near $25.00 and attempt to move further higher next week. If the price could close above $25.00 then traders will expect consolidation between $25.00 – $26.00 next.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil, not much movement yet

No higher high printed on the crude oil chart. The price continues its consolidation near the $38.50 – $40.00 area after previous day bearish close. Traders will continue expect crude oil to consolidate and trading sideways near $38.50 – $40.00 for the coming week.

Today critical level to watch:

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

Resistance: $49.00, $50.00