Gold climb toward $1,850 and SMA 200

Gold prices continue to print bullish close on the daily chart. There is no bearish reaction yet from the $1,850 and daily SMA 200. If the price continues moving upward and closes above both resistance levels then traders will expect a bullish continuation toward $1,900, $1,950, and $2,000.

At the current time, traders will wait for breakout or rejection confirmation from both resistance level.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850, $1,900, $1,950, $2,000

Silver printed bearish pin bar pattern

The bullish movement of silver prices continue yesterday, but at the end of the day the price reverse and closed near its opening level. Today, the bull attempting to bring the price further higher to avoid breakout below the bearish pattern.

If the silver price closes below the pin bar pattern low then traders will expect another bearish correction to test $25.00 – $26.00. On the other hand, without any bearish close below the pin bar low, silver could continue its bullish trend.

Today Critical levels to watch:

Support: $27.00, $26.00, $25.00, $21.35, $20.00

Resistance: $30.00, $31.50

Crude oil heading toward $60.00

Crude oil prices made another bullish close and extended the bullish streak to seventh days. Without any major change in the direction, the crude oil price is expected to target $60.00 handle next. At the current time, it is better to avoid short positions while waiting for a bearish close or bearish correction.

Today critical level to watch:

Support: $57.60, $55.80, $55.00, $54.50

Resistance: $60.00