Gold limited between $1,800 & SMA 200
Gold prices are under bearish pressure but always close the day above the level. The price is expected to maintain the range between $1,800 and SMA 200 until the end of the week. Traders will continue to observe the daily closing level for now and waiting for a breakout.
We still think the price could continue its bullish trend and surpass the daily SMA 200.
Today critical levels to watch:
Support: $1,800, $1,780, $1,700, $1,680
Resistance: $1,850, $1,900
Silver bounce from $25.00
A bounce is expected from the $25.00 handle and brings the price upward to test $26.00. At the current time, the silver price might consolidate between $25.00 – $26.00 while waiting for a breakout. If the price could reclaim $26.00 and print a higher high then traders will expect bullish continuation toward $30.00 and $31.50.
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 set to resume bullish trend
Crude oil prices recover all of the losses incurred at the beginning of the week. The price has returned above the $70.00 handle and is set to resume its bullish trend. On the upside, $77.13 is the target for the current upward movement. As long as there is no bearish close below $70.00 at the end of the week, it is safe to assume that the bullish movement will continue.
Today critical level to watch:
Support: $70.00, $67.20, $65.00, $60.00