Gold climb above $1,800

The bearish movement canceled after the Fed announcement and gold prices continue building more bullish pressure. Gold prices climb above the daily SMA 200 and the $1,800 resistance level. A close above the level at the end of the week will confirm further upside in the coming week. Traders could use the $1,780 – $1,800 area and the daily SMA 200 as places to enter long positions.

Today critical levels to watch:

Support: $1,780

Resistance: $1,800, $1,850, $1,953, $2,000

Silver target the yellow box area

Silver prices bounced from the $21.35 support level and traded upward. The price continues building more bullish pressure and is expected to target the yellow box area. As mentioned in the previous analysis, a close above yellow box area will confirm bullish continuation to target $25.00 – $26.00.

Today Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil more sideway movement near $70.00

Crude oil prices maintained a position above the $70.00 handle and made another bullish close yesterday. However, there is no bullish follow-through today. The price might continue trading sideway near $70.00 with a bullish bias. If the price continues the upward movement then $77.13 is the upward target.

Today critical level to watch:

Support: $70.00, $67.20, $65.00

Resistance: $71.22, $77.13