Gold closed between $1,900 – $1,950

Gold upward movement was rejected from the top of the triangle pattern and the $1,950 resistance. The precious metal maintained the positions inside the $1,900 – $1,950 area. This week, the price is expected to consolidate inside the range and waiting for a breakout.

On the long-term view, the trend is bullish and suggesting traders to continue to maintain long positions. However, traders will prepare for a deeper correction toward $1,780 – $1,800 if the $1,900 support level is broken.

Today critical levels to watch:

Support: $1,900, $1,800

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

Silver consolidate above $25.00 – $26.00

Silver prices traded sideways after the bounce from the $25.00 – $26.00 area. The price is expected to continue its consolidation near the $25.00 – $26.00 and inside the triangle pattern. Without any breakout of the range, it is better to wait sideline for now.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35

Resistance: $30.00, $31.50

Crude oil start a downtrend?

Last week, crude oil prices closed below $38.50 with strong bearish momentum. The price is expected to continue its bearish movement and target the $33.00 and $30.00 support level. If the price make bullish correction toward the $38.50 – $40.00 area then traders could consider entering short positions.

Today critical level to watch:

Support: $33.00, $30.00

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