Gold more bearish pressure
Gold prices are expected to consolidate between $1,800 and the daily SMA 200. The price currently experiences bearish pressure and falls below $1,800. If the bearish pressure continues to mount then we might see gold price trading near $1,780 soon. On the long-term view, if the price could reclaim the level above daily SMA 200 then there is a chance for bullish continuation.
Today critical levels to watch:
Support: $1,800, $1,780, $1,700, $1,680
Resistance: $1,850, $1,900
Silver stick near $25.00
The test on the $25.00 support level is still in progress. Silver prices managed to close yesterday’s trading session with a bullish close above $25.00. However, the price is currently under bearish pressure. Will the price continue to maintain the level above $25.00 and resume its bullish movement toward $26.00?
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 return above $70.00
Crude oil bounced from the yellow box area with strong bullish momentum. The price closed above $70.00 yesterday and is set to continue its bullish movement toward $77.13. The price needs to maintain the close above $70.00 until the end of the week to confirm the sustainability of the current bullish reaction.
Today critical level to watch:
Support: $70.00, $67.20, $65.00, $60.00