Gold trading near $1,850

Not much movement yet near the $1,850 resistance level. Gold prices are trading sideline near the level before tomorrow’s FOMC meeting. We expect gold prices will continue its bullish movement this year, following the increase of inflation and expectation that the Fed will increase the interest rate.

However, if the price breakout and close below daily SMA 200 also $1,780 – $1,800 area then the trend will change.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850, $1,953, $2,000

Silver return inside the yellow box area

Silver prices broke above the yellow box area and are expected to continue the bullish movement toward the $25.00 – $26.00 area. However, the price is currently under pressure and returns inside the box area. If the price could reverse the bearish pressure and close the week above the box area then traders could expect a bullish continuation.

Today Critical levels to watch:

Support: $23.90, $23.00, $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil trade inside $82.72 – $85.00

The bullish trend of crude oil prices is expected to continue this year with $90.00 and $100.00 as targets. At the current time, the price is trading inside the $82.72 – $85.00 area and is expected to stay inside it until the Fed interest-rate announcement. If the price continues the downward movement then $77.13 is the level to watch for a bounce.

Today critical level to watch:

Support: $85.00, $82.72, $80.00

Resistance: $90.00, $100.00