Gold undecided

Gold prices made a mini bearish close yesterday which might indicate bearish continuation. However, the price has not broken below previous week’s low which mean the next movement is undecided. If the price continues to move lower, it will test the $1,780 – $1,800 area. On the other hand, if the price could close above daily SMA 200 then there is chance of bullish continuation toward $1,900.

Today critical levels to watch:

Support: $1,800, $1,780

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

Silver bearish rejection

Silver prices got rejected from the $21.35 resistance level and made a bearish close yesterday. The price might continue moving lower and target the $20.00 support level. On the other hand, if the price could close above $21.35 then there is a chance of bullish continuation toward the $23.00 – $23.90 area.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil more bullish close

Crude oil prices continued the upward movement and printed a more bullish close. The price might continue to increase and target the $130.00 resistance level. If the price trade lower and reach $106.00 support level again then traders could use the chance to add long positions after the price formed bullish reactions.

Today’s critical level to watch:

Support: $100.00, $95.25, $90.00

Resistance: $106.00, $130.00