Gold rejection from daily SMA 200

Gold prices formed a bearish reaction at the end of the week and closed lower. The price is rejected from the daily SMA 200 but has no bearish continuation yet today. If the price could make recovery and closed above daily SMA 200 then the bullish trend is expected to continue.

Meanwhile, traders will continue to monitor the price movement between $1,800 and daily SMA 200.

Today critical levels to watch:

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

Resistance: $1,850, $1,900

Silver bearish continuation toward $25.00

Silver prices formed a bearish close with strong momentum. It is currently trading near the previous month’s low and will seek to continue lower toward $25.00. The same strategy as before, traders could use the $25.00 support level as the place to enter long positions when retest happen.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

Resistance: $26.00, $27.00, $29.00, $30.00, $31.50

Crude oil waiting for reaction near $70.00

Crude oil prices almost reach the $70.00 support level last week. The price formed a doji pattern at the end of the week and signal uncertainty. Traders are waiting for a further reaction from the level near $70.00 to determine the price next direction.

A close below $70.00 could trigger further bearish movement toward the yellow box area.

Today critical level to watch:

Support: $70.00, $67.20

Resistance: $77.13