Gold trading sideways

The movement of gold prices seems limited near the daily SMA 200. There is no major reaction from the level yet as the price is trading sideways near it. There is a triangle pattern forming on the daily chart. Traders might need to wait until the price moves out of the triangle range to determine the next direction.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850, $1,900, $1,953

Silver trading back above $21.35

Silver prices printed a lower low last week, fortunately, the price managed to close above the $21.35 handle at the end of the week. There is a bullish continuation in today’s trading session. If the price could continue to build bullish pressure then we might see upward movement to target the $23.00 – $23.90 area.

However, if the price moves lower again then we might see a continuation toward the $20.00 handle.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil bounce from $106.00

Crude oil prices closed below the $106.00 level last week but the price managed to close above it at the end of the week. There is bullish follow-through in today’s trading session. At the current time, crude oil prices are trading above Friday’s high and will attempt to add more bullish pressure. If the bullish pressure is maintained then we might see a new bullish leg to target a new higher high.

Today’s critical level to watch:

Support: $100.00, $95.25, $90.00

Resistance: $106.00, $130.00