Gold retesting daily SMA 200

Gold price’s bearish rejection from the daily SMA 200 and $1,780 – $1,800 area seems to be losing bearish momentum. The price currently moving upward and is set to retest the $1,780 – $1,800 area. Traders will monitor the reactions from the area and the daily SMA 200. If the price could close above the averages then we might see a bullish continuation until the end of the month.

Today’s critical levels to watch:

Support: $1,700, $1,680, $1,600, $1,585

Resistance: $1,780, $1,800

Silver trade near $23.00

Silver prices reverse the bearish pressure and start moving upward again. The price currently trading near the $23.00 resistance level. If the price could extend the bullish movement and print a new higher high then the upward movement will target $23.90 and $25.00. On the other hand, if the price starts another bearish movement then it might target the $21.35 support level.

Today’s Critical levels to watch:

Support: $21.35, $20.00, $18.50, $17.73

Resistance: $23.00, $23.90

Crude oil target $70.00

Crude oil prices have lost the $77.13 support level and are now halfway toward $70.00. There is no reason for traders to turn bullish yet. The price needs to test the support level or return above $77.13 before the bearish trend will shift to the bullish trend. When there is major bullish reactions, traders could enter long positions.

Today’s critical level to watch:

Support: $77.13, $70.00

Resistance: $80.00, $85.00, $90.00, $95.25