Gold rejected from $1,850 and SMA 200

The bullish movement of gold prices has reached the $1,850 and daily SMA 200 last week. The price got rejected from the resistance level and closed lower. On the Friday trading session, the bearish pressure continues to mount but at the end of the day, the price could close the day as a bullish pin bar.

If the gold price could climb and close above the pattern then traders will expect another bullish test on the $1,850 and daily SMA 200.

Today critical levels to watch:

Support: $1,800, $1,780

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

Silver on the bullish path

There was bearish pressure on the silver prices and initially, the price might correct toward $25.00 – $26.00. However, the bearish pressure seems to have receded and currently the price moving upward. Silver prices soon might test the previous week’s high and seek a breakout above it.

We still think the price will continue moving upward and target $30.00 also $31.50 resistance levels.

Today Critical levels to watch:

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

Resistance: $30.00, $31.50

Crude oil strong bullish pressure

At the end of the previous week, crude oil managed to stage a bullish jump and closed near the $60.00 handle. Today, the price has crossed the resistance level and seek to add more gain. Under the current situation, traders will continue to avoid short positions and hold long positions.

Without any change in the direction, $65.00 is the next upward target.

Today critical level to watch:

Support: $57.60

Resistance: $60.00, $65.00