Gold testing the daily SMA 200

Gold pushed lower yesterday but managed to close the day on the positive side. The precious metal currently moving upward and testing the daily SMA 200. Without any close above the averages and the $1,850 handle, gold might start moving lower again to target $1,780 – $1,800.

Today critical levels to watch:

Support: $1,800, $1,780

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

Silver stick near $25.00

The bearish pressure also experienced by silver as the price fell and tested the trendline. Silver managed to close the day higher near the $25.00 handle. There is bullish follow-through today above the $25.00 handle. If the price could close above $25.00 then traders will expect consolidation between $25.00 – $26.00 next.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

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

Crude oil no bearish follow-through

Despite the bearish engulfing pattern formed last week, crude oil continues to stick near $52.40 without confirming the bearish pattern. Will the price move upward and continue its bullish movement toward $54.50 – $55.00? Or the pair might start the bearish correction toward $49.00 – $50.00?

Today critical level to watch:

Support: $52.40, $50.00, $49.00

Resistance: $54.50, $55.00