Gold stick near $1,900

The bearish pressure on gold prices stopped yesterday as the price make a minor bullish close. However, the price come under bearish pressure again today. If the price continues the downward movement then it is expected to target the $1,850 and daily SMA 200. Traders could use the $1,850 level and daily SMA 200 as levels to enter long positions when there is a major bullish reaction.

Today critical levels to watch:

Support: $1,900, $1,850

Resistance: $1,953, $2,000, $2,074.69

Silver consolidation inside yellow box area

Silver prices pushed lower and currently trading inside the yellow box area. We might see a bearish continuation to test the bottom of the yellow box area. Traders could prepare to enter long positions near the bottom of the yellow box area when there is a bullish reaction. In the long-term, the price needs to climb above $26.00 to confirm a bullish continuation.

Today’s Critical levels to watch:

Support: $23.00

Resistance: $23.90, $25.00, $26.00, $27.50

Crude oil bounce reaction

Crude oil prices bounced from the $95.25 support level and closed higher yesterday. There is a bullish continuation attempt today but no breakout above the previous day’s high yet. At the current time, the price is expected to range between $95.25 – $106.00 and traders will wait for a breakout from the range to get confirmation on the next direction.

Today’s critical level to watch:

Support: $95.25, $90.00

Resistance: $100.00, $106.00, $130.00