Gold waiting for more bullish pressure

The bullish movement of gold prices has secured close above $1,800 and currently consolidate near it. Gold prices are expected to continue consolidation for now and later continue its bullish movement toward daily SMA 200. This week, there are inflation data releases and Jerome Powell testimony which could trigger market volatility. Traders will continue to observe the news and gold reaction near the daily SMA 200.

Today critical levels to watch:

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

Resistance: $1,850, $1,900

Silver stick near $26.00

There is no major reaction from the $26.00 level yet. Silver prices continue trading sideways near the level and waiting for further reaction. In the long-term we still expect the price to continue its upward movement and target the $30.00 also $31.50 resistance level.

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 waiting for bullish pressure

Crude oil prices currently trading at the middle of $70.00 and $77.13 level. The price made a bearish close yesterday though not significant. If the price could continue moving upward and print a higher high above $77.13 then the bullish trend will be maintained. On the other hand, the bearish movement followed by a lower low below $70.00 could trigger a deeper bearish correction.

Today critical level to watch:

Support: $70.00, $67.20

Resistance: $77.13