Gold settled below daily SMA 200

Gold prices were under pressure last week and managed to close below the daily SMA 200. The price also settled inside the $1,780 – $1,800 area. We might see consolidation between $1,780 – $1,800 this week while gold prices waiting for the next direction. As long as there is no lower swing low printed on the chart, there is a chance of a bullish reversal to happen.

A close above daily SMA 200 will turn the trend back to bullish again for the short term.

Today critical levels to watch:

Support: $1,780

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

Silver price continues toward $21.35?

Silver prices got rejected from the yellow box area last week. The price seems moving toward the $21.35 support level for now. If the price could maintain the level above the support level and bounce from it then we might see another test on the yellow box area. On the other hand, a breakout and close below the level will trigger major bearish continuation.

Today Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil stay above $77.13

Crude oil prices climbed above the $77.13 resistance level last week and stayed above it. The price is expected to target $82.72 and $85.00 resistance levels next. If the price moves lower toward $77.13 then traders could use the chance to enter long positions.

Today critical level to watch:

Support: $77.13, $71.22, $70.00

Resistance: $80.00, $82.72, $85.00