Gold return to the daily SMA 200

There is no bullish continuation yet in the price of gold. The price made a bearish close yesterday and there is bearish follow-through today. It is currently testing the daily SMA 200 and looking for a breakout below it. A close below daily SMA 200 and $1,800 will trigger more bearish pressure on gold.

At the current time, traders will observe the price movement near the averages.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850

Silver might return to the yellow box area

Silver price launched upward from the yellow box area last week. The price closed not far from the $25.00 – $26.00 area. However, it seems the bear is currently in control of the price movement and price it lower. Without any change in the sentiment, the silver price might reach the yellow box area to retest it.

Today Critical levels to watch:

Support: $23.90, $23.00, $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil more consolidation

No breakout above the $70.00 resistance level in crude oil prices yet. The price is slightly lower and might reach the $67.20 support level soon. Traders will continue to observe the price movement between the $67.20 – $70.00 area for now. A close below $67.20 might trigger more bearish pressure toward $65.00.

Today critical level to watch:

Support: $67.20, $65.00, $60.00

Resistance: $70.00, $77.13