Gold close above daily SMA 200

Gold prices closed above the daily SMA 200 which become a bullish confirmation. The price is expected to continue its bullish trend and target the $1,850 resistance level next. As long as the price could close above the averages at the end of the week then it is expected to continue the bullish trend.

Meanwhile, a close below daily SMA 200 will hinder the uptrend and turn the situation bearish once again.

Today critical levels to watch:

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

Resistance: $1,850, $1,900

Silver set to target $26.00

Silver prices bounce from the $25.00 handle and closed above the previous week’s high. The price might continue its upward movement and test the $26.00. A close above the $26.00 handle and a new higher high will confirm further upside to target $30.00 and $31.50 long-term target.

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 on the path toward $77.13

Crude oil prices extended its bullish close and are set to continue its upward movement to target $77.13. If the price makes a bearish correction to retest $70.00 then traders could consider entering more long positions on bullish reaction.

Today critical level to watch:

Support: $70.00, $67.20, $65.00, $60.00

Resistance: $77.13