Gold continues sideway

Gold prices are currently stuck between daily SMA 200 and $1,850 resistance level. The price is expected to continue consolidation for now between two levels. If a bearish breakout happens then traders will expect a bearish continuation toward $1,780 – $1,800. On the other hand, if a bullish breakout happens then gold might return to $1,900 or $1,950.

Today critical levels to watch:

Support: $1,800, $1,780

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

Silver waiting for a breakout of $25.00 – $26.00

Silver prices continue trading inside the $25.00 – $26.00 area as projected. Traders will wait for a breakout from the area now. As today is the last day of the week, the silver price might settle inside the $25.00 – $26.00 area by the end of the week.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

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

Crude oil continues toward $54.50 – $55.00

Crude oil prices tested the $52.40 level yesterday and bounced from it. The price closed the day with moderate bullish momentum. If the price continues moving upward above the previous day’s high then it will reach the $54.50 – $55.00 area.

Traders will observe the price reaction at $54.50 – 55.00 area. Without a major bearish reaction, it is better to avoid short positions.

Today critical level to watch:

Support: $52.40, $50.00, $49.00

Resistance: $54.50, $55.00