Gold sideway below $1,900

The price of gold has dipped and closed below its daily SMA 200 and $1,900. The sentiment for gold prices remains bullish in the long term but needs significant strengthening above the daily SMA 200 and $1,900. For now, traders will continue to accumulate long positions while waiting for bullish momentum.

Today’s critical levels to watch:

Support: $1,900, $1,850

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

Silver return above $23.00

Silver prices are moving back up above the $23.00 point which could be indicative of further strength. The range of movement again is between $ 23.00 – $ 23.90 and traders will wait for developments while accumulating long positions. If the price continues to move lower then traders can wait near the $21.35 point for opportunities to enter long positions.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil continue moving upward?

The decline in crude oil prices did not reach $77.13 where prices are currently seen moving up. If the price continues to strengthen, the next bullish target is the formation of a higher swing high point. However, if the price continues to move lower then the $77.13 point is where traders will consider adding to their long positions.

Today’s critical level to watch:

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

Resistance: $85.00