Gold return above daily SMA 200

Gold prices managed to secure a close above the daily SMA 200 and currently trading near the $1,850 level. It seems the price could continue moving upward to target the $1,900 resistance level next. At the current time, a higher low has been printed on the chart. Gold prices need to print a new higher high to confirm a bullish reversal.

Today critical levels to watch:

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

Resistance: $1,900, $1,953

Silver moving upward above $21.35

Similar to the gold prices movement, silver prices managed to print a higher low and will wait for a higher high to confirm a bullish reversal. On the upside, $23.00 – $23.90 is the area to watch as a target. On the lower side, $20.00 is the bearish target when the price could print a new lower low.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil trading upward inside a bullish channel

Crude oil prices pushed lower yesterday but at the end of the day managed to recover all of the losses and print a bullish pin bar pattern. There is bullish follow-through today as the price moves above the pattern high. Traders will continue to assume crude oil prices will continue the bullish movement to target $130.00 resistance level as long as the price stay inside the bullish channel.

Today’s critical level to watch:

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

Resistance: $130.00