Gold stays above the daily SMA 200

Bearish pressure is experienced by the price of gold near the $1,900 point and the daily SMA 200 at the moment. However, the price seems to be trying to maintain its position above that point to continue its bullish trend. If the price can move up from this point then $1,953 will be the target for a bullish leg. Meanwhile, a close below the daily SMA 200 could provide further bearish pressure but on a limited basis.

Today’s critical levels to watch:

Support: $1,900, $1,850

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

Silver stays above $23.90

The price of silver has returned above the $23.90 point and the up move was instantaneous. Currently, the price needs to form a higher swing high to confirm the continuation of the bullish trend. If prices can close above $25.00 or preferably above $26.00 then the bullish trend can continue.

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil bullish attempt

Bullish pressure occurs on the price of crude oil which is trying to penetrate the $80.00 point. The price seems to be losing its bullish momentum for now and will probably close below that point. If the price can rise and close above $80.00 then the bullish move can continue. However, if the price is found to be moving downward, the $77.13 point could become a downside target.

Today’s critical level to watch:

Support: $77.13, $70.00, $65.00

Resistance: $80.00, $85.00