Gold closed above SMA 200 & $1,850

Gold price experienced a major bullish gain yesterday. The precious metal surpassed the daily SMA 200 & $1,850 handle. If the price continues moving upward today then traders will expect medium-long-term continuation toward $1,900, $1,950, and $2,000.

Today critical levels to watch:

Support: $1,850, $1,800, $1,780

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

Silver bullish close near $26.00

The upward movement was also experienced by the silver price which closed near the $26.00 resistance level. The price has not breakout from the $25.00 – $26.00 area yet. If the price could climb and close above $26.00 then silver expected to continue moving upward to target $30.00 and $31.50 resistance level.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

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

Crude oil slight weakness before $54.50 – $55.00?

Crude oil price made further bullish movement yesterday. However, the bullish movement stopped and reversed near the top of the bearish engulfing pattern. Traders seem becoming cautious and waiting for a reason to bring the price toward $54.50 – $55.00.

If there is another bearish pattern formed from the current level then crude oil might reverse its direction and start a bearish correction toward $49.00 – $50.00.

Today critical level to watch:

Support: $52.40, $50.00, $49.00

Resistance: $54.50, $55.00