Gold hanging near the daily SMA 200

The bullish pressure on gold prices brought the price to close near the daily SMA 200 last week. There is no bullish continuation this week, traders are waiting for a further reaction from the daily SMA 200 and $1,850 level. Will the price continue its bullish pressure and continue toward the $1,900 level? Alternatively, will it start moving lower again to target the level below $1,780?

Today critical levels to watch:

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

Resistance: $1,900, $1,953

Silver trading above $21.35

Silver prices managed to climb above the $21.35 level and might extend the bullish movement toward $23.00 – $23.90 area. No higher high printed yet on the chart. At the current time, silver prices might continue trading near the $21.35 level. On the lower side, $20.00 is the bearish target when a new lower low is printed.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil start a bearish correction

Crude oil prices broke below the bullish channel and fell with strong bearish momentum. The price starts a bearish correction toward the $106.00 level. Traders will wait near the level for a chance to enter long positions when there is a significant bullish reaction. However, if the price continues moving lower then the $95.25 support level will become the final confirmation for a bearish reversal.

Today’s critical level to watch:

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

Resistance: $130.00