Gold bullish reaction from $1,800

The bearish rejection from daily SMA 200 brought gold prices lower to test the $1,800 support level. The price made a bullish reaction from the support level and closed the day as a bullish pin bar pattern. At the current time, the price is attempting to continue its upward movement and testing the previous day’s high.

We might see another test on the daily SMA 200 and a possible bullish breakout to continue the upward movement toward $1,850.

Today critical levels to watch:

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

Resistance: $1,850, $1,900

Silver reached the $25.00 support level

Silver fell with strong bearish momentum and managed to reach the $25.00 support level. The consolidation inside $25.00 – $26.00 is still in progress and traders will continue to monitor the price reaction inside it. At the current time, speculative long positions could be taken with a tight stop below $25.00. However, we might see further weakness as there is no bullish reaction yet.

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 breakout below $70.00

Crude oil prices pushed lower with strong bearish momentum and closed below $70.00. The breakout happened and brought the price down to reach the yellow box area. Traders might want to avoid long positions for now until a major bullish reaction happen.

Today critical level to watch:

Support: $65.00, $60.00

Resistance: $67.20, $70.00, $77.13