Gold moving toward $2,000

Gold price is still within the $1,953 – $2,000 area and is waiting for bullish momentum to continue its upward movement. In the long term, the price trend is bullish due to developments in the global situation. Traders should only take advantage of any decline in price as an opportunity to enter a long position.

Today’s critical levels to watch:

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

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

Silver stick near $23.00

Silver prices pushed down below $23.00 at the start of this week and have the opportunity to continue their bearish movement towards $21.35. However, the price looks to maintain its position not far from the $23.00 mark. If the price can rise again above $23.00 then the bullish movement can continue towards $23.90.

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil closed above $90.00

Crude oil prices continued their decline after a bearish close yesterday. However, the downward movement has reversed and the price is now trading above the opening point. If the price can continue its strengthening and close above $85.00 then the bullish trend can resume. Conversely, if the price continues to weaken then there is a chance of a decline to $77.13.

Today’s critical level to watch:

Support: $85.00, $80.00

Resistance: $90.00, $95.00