Gold continues toward daily SMA 200

The price of gold is experiencing a decline with a new low below the previous week’s low today. The price of gold might hit the daily SMA 200 and also $1,900 soon. As previously planned, if the price can give a solid bullish reaction from that point traders can consider entering long positions.

Today’s critical levels to watch:

Support: $1,900, $1,850

Resistance: $1,950, $2,000, $2,069, $2,074

Silver has more bearish pressure

The situation for the silver price is not improving with the price continuing to be under bearish pressure. However, there has not been a lower swing low point formed so there is still a possibility for a reversal. If the price can move up and close above $23.00 then the bullish run can continue. On the other hand, if the price continues to fall then the $21.35 point could become a downside target.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil bearish correction?

A bearish correction is being experienced by crude oil prices but there is no significant decline. The price has so far held close to its opening level and will try to reverse its direction to turn bullish again. When the price makes a bearish correction, traders will use this opportunity to add long positions near the support point.

Today’s critical level to watch:

Support: $80.00, $77.13, $70.00, $65.00

Resistance: $85.00