Gold stick near daily SMA 200

Bearish pressure on the gold price has brought the price down to reach the daily SMA 200. Currently, the price is still moving near that point and waiting for a reaction. If the price can bounce up with strong bullish momentum then a bullish trend can start. However, if the price breaks below the daily SMA 200 and forms a lower swing low point then the bearish trend can still continue.

Today’s critical levels to watch:

Support: $1,900, $1,850

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

Silver further sideways movement

There hasn’t been a continuation of the bearish move on the silver price towards $21.35. Prices are still moving sideway not far below $23.00. For now, traders will still be waiting for further developments. If the price moves up and closes above $23.00 then there is a chance of a bullish reversal.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil target $77.13

Crude oil prices experienced significant bearish pressure. A bearish correction seems to be in progress and the price may drop towards $77.13 to test it. Traders will wait near that point for a bullish reaction and opportunities to enter long positions.

Today’s critical level to watch:

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

Resistance: $85.00