Gold on the bullish path above SMA 200

Gold prices moved upward and managed to close above daily SMA 200 at the end of the year. The price extended the bullish movement and might target the $1,850 resistance level. This year, the inflation level is expected to continue to creep upward which means the bull has the advantage. Under the current situation, traders will continue to hold long positions and add more positions when the bearish correction happens.

Today critical levels to watch:

Support: $1,800, $1,780

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

Silver moving inside the yellow box area

Silver prices finally managed to close inside the yellow box area. The price might follow gold prices movement and add more bullish gain. If the price could breakout above the yellow box area then it could continue upward to target the $25.00 – $26.00 area. A close above the $25.00 – $26.00 area will confirm a long-term bullish continuation.

Today Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil testing $77.13 resistance level

The bullish movement of crude oil prices managed to bring the price to reach $77.13 resistance level. At the current time, crude oil prices are expected to continue testing the resistance level and attempt to close above it. If a close above the $77.13 resistance level happen then traders will have long-term bullish confirmation to target $82.72 and $85.00.

Today critical level to watch:

Support: $70.00, $67.20, $65.00

Resistance: $71.22, $77.13