Gold looking to breakout above SMA 200

There is another bullish close in gold prices yesterday. The price made a bullish attempt toward the daily SMA 200 but no close above it yet. At the current time, the gold price has climbed above daily SMA 200 and testing the $1,850 handle. If a close above $1,850 happens then traders will expect another bullish rally toward $1,950 and $2,000.

Today critical levels to watch:

Support: $1,800, $1,780

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

Silver climbed above $25.00

Silver price managed to close above $25.00 handle. It means the price has returned inside the $25.00 – $26.00 area and will continue its ranging movement now. There is more bullish pressure today. Traders who have entered long positions will continue to hold the positions for now while observing the price reaction inside the $25.00 – $26.00 area.

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

No follow-through of the bearish engulfing pattern. Crude oil price bounces from $52.40 level and is set to target $54.50 – $55.00. Trades who have long positions could continue to keep holding the position with a stop below $52.40 for now.

Today critical level to watch:

Support: $52.40, $50.00, $49.00

Resistance: $54.50, $55.00