Gold bounced from $1,800

Gold prices managed to bounce from the $1,800 and the daily SMA 200 yesterday. The price continues the upward movement today and is expected to target the $1,850 resistance level. We continually maintain the bullish outlook as long as there is no lower swing low printed. If the price could close above $1,850 then the bullish trend is set to continue toward $1,900.

Today critical levels to watch:

Support: $1,800, $1,780

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

Silver stick near the bottom of yellow box area

Silver prices closed the day near the $23.00 handle or the bottom of the yellow box area yesterday. There is a bullish attempt today but limited at the bottom of the yellow box area. Traders will continue to observe the price reaction in the yellow box area. If the price could climb and close above the area then we will expect bullish continuation to test the $25.00 – $26.00 area.

Today Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil climb above $77.13

Crude oil prices breakout above the $77.13 handle today. The price also climbs above the previous major bearish candlestick’s high. If the price could maintain the bullish pressure then traders will expect continuation toward $82.72 and $85.00 high. Meanwhile, traders could use the $77.13 handle as the place to add more long positions.

Today critical level to watch:

Support: $70.00, $67.20, $65.00

Resistance: $71.22, $77.13