Gold mostly sideways near $1,950

This week, gold prices mostly trading near the $1,950 and show no major change in the direction yet. The precious metal also trading inside the triangle range and expected to continue until breakout happen. On the long-term view, the gold prices trend is bullish and suggesting traders sticking with long positions.

Today critical levels to watch:

Support: $1,900, $1,800

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

Silver bullish reaction from $26.00

Yesterday, the price of silver pushed lower and tested the level near $26.00. It managed to bounce from the level and closed the day near its opening level. We have a bullish pin bar pattern but not a major bullish confirmation. Silver currently sticks inside the triangle pattern and is expected to continue trading sideways inside it.

Traders will continue waiting for a breakout before entering major positions.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35

Resistance: $30.00, $31.50

Crude oil return to bullish track?

The upward movement of crude oil managed to close the price above $38.50 – $40.00 area. Crude oil prices might have returned to the bullish track. However, the price currently has trouble to add more gains above the previous day high. If the price close below $40.00 at the end of the week then we might see consolidation between $38.50 – $40.00 and another attempt to bring the price lower.

Today critical level to watch:

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

Resistance: $49.00, $50.00