Gold under pressure below SMA 200

Gold prices made another bearish close yesterday below the $1,850 and SMA 200. The precious metal currently continues under pressure but maintains the level inside the previous day range. If gold closes below the previous day’s low then traders will expect further weakness toward the $1,780 – $1,800 area.

Today critical levels to watch:

Support: $1,800, $1,780

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

Silver closed above $25.00

Despite the bearish pressure on silver price, there is no close below $25.00 yet. The price bounced from the $25.00 and trendline support yesterday. As long as the price maintains the close inside the $25.00 – $26.00 then the consolidation will continue.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

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

Crude oil stick to $52.40

Crude oil breakout below $52.40 but at the end of the day, the price closed above it. No breakout, no clue yet where the price will move next. However, we think the price could continue upward and test the $54.50 – $55.00 area as long as it stays above $52.40.

Today critical level to watch:

Support: $52.40, $50.00, $49.00

Resistance: $54.50, $55.00