Gold settled above $1,900

Even though the price opened lower below $1,900, at the end of the day, gold managed to climb higher and closed above $1,900. There is no change to the outlook of the precious metal yet. Gold prices are expected to consolidate near the $1,900 handle.

In the long-term view, gold prices are expected to continue its bullish trend. However, the price needs to print a higher high before it could confirm the continuation of the bullish trend.

Today critical levels to watch:

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

Resistance: $1,950, $2,000

Silver further bearish close

The rejection from the $25.00 added more bearish pressure on silver prices yesterday. The price closed lower for the third day and will aim for a further bearish close. No bearish continuation yet today but silver could not lift itself higher.

If the price made a further bearish close below the previous day low then traders will expect the start of a new bearish leg toward $21.35 and $20.00.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil closed near the $38.50

The price gapped lower and start trading near the $38.50 support level yesterday. Fortunately, there is no bearish close below the level. Crude oil prices currently attempting to maintain its position above the level. if the price could start moving higher again then the consolidation between $38.50 – $40.00 will continue.

Today critical level to watch:

Support: $38.50, $33.00, $30.00

Resistance: $40.00, $49.00, $50.00