Gold extends bullish pressure

Gold prices printed a higher high today and are set to continue its bullish movement toward daily SMA 200. A close above the averages will lead the precious metal further higher to test the $1,850 resistance level. At the current time, traders will wait for gold prices to reach the resistance level and formed reactions before placing positions.

Today critical levels to watch:

Support: $1,800, $1,780, $1,700, $1,680

Resistance: $1,850, $1,900

Silver bearish pressure near the $26.00

Silver prices not following the bullish pressure in gold prices. It printed a neutral close yesterday and there is bearish pressure toward $26.00 today. We still think silver prices could bounce from $26.00 and continue its bullish trend to target $30.00 and $31.50.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35, $20.00

Resistance: $27.00, $29.00, $30.00, $31.50

Crude oil bearish correction toward $70.00

The price of crude oil got rejected from the $77.13 resistance level and continue it’s bearish close yesterday. It seems the bearish correction has started and the price is expected to target the $70.00 support level. As mentioned in the previous analysis, when the price reaches $70.00 and forms a bullish reaction then traders could enter long positions.

Today critical level to watch:

Support: $70.00, $67.20

Resistance: $77.13