Gold more bearish pressure below daily SMA 200

Gold prices closed the day below the daily SMA 200 and inside the $1,780 – $1,800 area. There is bearish follow-through today though not with strong bearish momentum. Traders will observe the closing level at the end of the week. If gold prices could close above daily SMA 200 or $1,800 then there is a chance of bullish reversal.

Today critical levels to watch:

Support: $1,780

Resistance: $1,800, $1,850, $1,953, $2,000

Silver target the trendline and $21.35

A bearish close below the yellow box area is not good for the bull. Silver prices are currently under pressure and soon will reach the trendline. If the price closes below the trendline then traders will expect a bearish continuation toward the $21.35 support level. On the other hand, if the price could close higher inside the yellow box area then there is a chance of a bullish reversal next week.

Today Critical levels to watch:

Support: $21.35, $20.00

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil on the bullish track

Crude oil prices have set up the bullish track to continue its upward movement. At the current time, $82.72 is the major support level that must hold on against the bearish pressure. If the price manages to close below $82.72 then the medium-term trend will switch to bearish.

Today critical level to watch:

Support: $82.72, $80.00

Resistance: $85.00, $90.00, $100.00