Gold testing $1,850 and SMA 200

Gold experienced bearish pressure at the end of the week and closed near the $1,850 support level. There is no breakout below the level which means the price has the opportunity to bounce from the level this week. If gold could bounce and surpass the previous week’s high then traders will expect the price to target $1,900, $1,950, and $2,000 next.

Today critical levels to watch:

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

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

Silver maintains the movement inside $25.00 – $26.00

There was bearish pressure in silver price at the end of the week. The price pushed lower and tested the $25.00 support level. Fortunately, there was no breakout below the level. Silver could maintain the level 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 closed below $52.40

Crude oil price pushed lower and closed below $52.40 last week. The price might continue its bearish correction toward the $49.00 – $50.00 area. At the current time, the price stick near $52.40 and will wait for a further reaction from the level. It is better to wait for the price to move lower toward the $49.00 – $50.00 where traders could enter long positions near the area.

Today critical level to watch:

Support: $50.00, $49.00

Resistance: $52.40, $54.50, $55.00