Gold waiting for further bullish momentum

Gold prices managed to print a bullish close yesterday. However, it is not a strong bullish bounce from the daily SMA 200. The price currently moving upward and will attempt to further the bullish movement. If the gold price could close above the previous day’s high then traders will have bullish confirmation toward $1,900.

On the other hand, if the gold price moves lower and closes below the daily SMA 200 then traders will prepare for further weakness toward $1,780 – $1,800.

Today critical levels to watch:

Support: $1,800, $1,780

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

Silver closed inside $25.00 – $26.00

Silver bearish pressure recedes and there is bullish close inside the $25.00 – $26.00 area. The price will attempt to move upward and test $26.00. If the price could close above $26.00 then we will expect the bullish continuation toward $30.00 and $31.50. On the other hand, if a close below $25.00 and the previous day low happen then silver is set to continue its bearish movement.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

Resistance: $26.00, $27.00, $30.00, $31.50

Crude oil getting near $54.50 – $55.00

There is no stop to the bullish movement of crude oil prices yet. We have a bullish close yesterday and there is further bullish pressure today. Without any change in the sentiment, the price soon will reach the $54.50 – $55.00 area. Traders will observe the price reaction near the resistance area for now.

Today critical level to watch:

Support: $52.40, $50.00, $49.00

Resistance: $54.50, $55.00