Gold bounce from the daily SMA 200

After the bearish pressure on gold prices, the price managed to close above the daily SMA 200 yesterday. Today, there is bullish follow-through which has surpassed the previous day’s high. If gold could maintain its bullish pressure then traders could expect continuation toward $1,900.

However, if the price close below $1,850 then we might see another test on daily SMA 200.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850, $1,900, $1,950, $2,000

Silver attempting to maintain the position inside $25.00 – $26.00

Silver price pushed and closed below $25.00 yesterday. The price seems to attempt to move upward today and trading inside the $25.00 – $26.00. If the price could close above the previous day’s high and $25.00 handle then traders could expect further upside in the coming days.

However, if the price close below $25.00 then be prepared for further bearish pressure.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

Resistance: $26.00, $27.00, $30.00, $31.50

Crude oil target $54.50 – $55.00

Crude oil closed the day near $52.40 yesterday. No major bearish reaction yet which means the bullish trend maintained. Today, the price climbed further higher and surpassed the previous day high. Without any major change, the crude oil price is expected to reach $54.50 – $55.00 soon.

Today critical level to watch:

Support: $50.00, $49.00

Resistance: $52.40, $54.50, $55.00