Gold bounce from the bottom of the triangle

Gold prices managed to bounce from the bottom of the triangle and closed above the pin bar high. The price currently testing the $1,950 resistance level and looking for a breakout toward the top of the triangle and $2,000 handle. At the current time, traders will continue to monitor the consolidation inside the triangle area.

Today critical levels to watch:

Support: $1,900, $1,800

Resistance: $1,950, $2,000, $2,050

Silver looking to bounce from $25.00 – $26.00

Silver prices continue to maintain the positions above $25.00 – $26.00 area. However, there is no strong bullish momentum yet from the level. Traders will continue to monitor the price reaction from the $25.00 – $26.00 area. If the price could continue higher then it will target the top trendline and $30.00.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35

Resistance: $30.00, $31.50

Crude oil testing $38.50 – $40.00 area

This week, crude oil prices closed below $38.50 – $40.00 area. There is a bullish reaction yesterday but the price stay below the area. We think crude oil will test the $38.50 – $40.00 area and look for the further trigger to continue the bearish movement.

Traders could use the $38.50 – $40.00 area as the place to look for short positions.

Today critical level to watch:

Support: $33.00, $30.00

Resistance: $38.50, $40.00, $49.00, $50.00