Gold more sideways movement

Gold prices continue moving sideways near the daily SMA 200 and the $1,850 level. There is no major movement away from the level as traders are waiting for tomorrow’s inflation data. After the release of the data, we might see rising volatility in the gold price movement. If the price continues to move lower then it will target the $1,780 – $1,800 area. Meanwhile, if the price moves upward then $1,900 is the target.

Today critical levels to watch:

Support: $1,850, $1,800, $1,780

Resistance: $1,900, $1,953

Silver waiting for trigger

Silver prices mirror the gold prices movement and trade sideways. There is no conclusion yet on where the price will move next. If the price extends the bearish movement then it might target the $20.00 support level. On the upward side, the price might continue moving higher to target the $23.00 – $23.90 area.

Today’s Critical levels to watch:

Support: $21.35

Resistance: $23.00, $23.90, $25.00, $26.00

Crude oil more bullish close

Crude oil prices built more bullish pressure and printed another bullish close yesterday. The price is expected to target the $130.00 resistance level. Traders could only wait for the price to make a bearish correction for a chance to enter long positions. Short positions are not suggested as the trend is bullish.

Today’s critical level to watch:

Support: $106.00, $100.00, $95.25, $90.00

Resistance: $130.00