Gold trading inside $1,780 – $1,800

Gold prices pushed lower and settled below daily SMA 200. The price closed inside the $1,780 – $1,800 area and is expected to consolidate inside it for now. Traders will wait for movement outside of the range to confirm the next direction. We think the bull still has a chance to reverse the current situation as long as it maintains a position above $1,780.

Today critical levels to watch:

Support: $1,780

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

Silver testing the trendline

Silver prices pushed lower below the yellow box area and reached the trendline. No lower swing low printed on the chart yet which means the price has a chance to reverse near the trendline. However, if a bearish breakout happens and a lower swing low is printed then traders will prepare for bearish continuation toward the $21.35 support level.

Today Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil waiting for further bullish pressure

No bullish continuation yet in crude oil prices as the price hanging above the $85.00 handle. Traders are waiting for further confirmation to bring the price upward and reach $90.00 also $100.00 resistance levels. Under the current situation, traders who have long positions will continue to hold the position and add more long positions when the price makes a bearish correction.

Today critical level to watch:

Support: $85.00, $82.72, $80.00

Resistance: $90.00, $100.00