Gold stick near the daily SMA 200 & $1,850

There is no reaction from the $1,850 and daily SMA 200 yet. Gold prices continue to stick near both levels and waiting for a reaction. It seems the market will wait for the Fed FOMC meeting result before deciding where gold will move next. If a bounce happens then gold set to target $1,900, $1,950 and $2,000. On the other hand, if a bearish breakout happens below SMA 200 then gold might continue lower to target $1,500 – $1,550 in the long-term.

Today critical levels to watch:

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

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

Silver more consolidation

Similar to the gold price, silver also continues its ranging movement. The price currently ranges between $25.00 – $26.00 and will wait for a breakout. We still think the price will climb and close above $26.00 to continue its bullish trend. However, traders might want to scale out of positions if a breakout below $25.00 and the bullish trendline happen.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

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

Crude oil maintain the position above $52.40

A breakout and close below $52.40 happened but crude oil managed to return above the level and continue trading above it. Crude oil prices attempting to build bullish pressure and continue its upward movement toward $54.50 – $55.00. Without a major bearish close below $52.40, traders could be assured that the price will resume its bullish trend.

Today critical level to watch:

Support: $52.40, $50.00, $49.00

Resistance: $54.50, $55.00