Gold ranging between daily SMA 200 and $1,780 – $1,800

The bearish pressure on gold prices has receded near the $1,780 – $1,800 area. There was a bullish continuation but the price got rejected from the daily SMA 200. At the current time, gold prices seem to range between the $1,780 – $1,800 and the daily SMA 200. Traders will observe the price reaction inside the range for now.

As long as there is no lower swing low printed on the chart, there is a chance of bullish continuation.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850, $1,900, $1,953

Silver maintain the level above $21.35

The bearish pressure on silver prices managed to push the price down below the $21.35 support level. However, the bull managed to secure a close above the level and maintain the position above it. Silver prices will attempt to maintain the position above the level until the end of the week to confirm further upside.

If the price continues moving upward then $23.00 and $23.90 will become the upward target. Both resistance levels will act as the place to take short positions too when retest resulted in a major bearish reaction.

Today’s Critical levels to watch:

Support: $21.35

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil building more bullish pressure

Crude oil prices traded upward and printed a higher swing high. The price is expected to continue its upward movement and target $130.00 in the long term. If the price makes a bearish correction toward $106.00 then traders could use the moment to enter long positions on a bullish reaction.

Today’s critical level to watch:

Support: $106.00, $100.00, $95.25, $90.00

Resistance: $130.00