Gold more sideway movement

Gold prices continue trading near the daily SMA 200 and waiting for further reaction. There is bearish close yesterday but not a major reaction. No bearish continuation in today trading session. Traders will continue monitor the price movement near the daily SMA 200 and the $1,850 level for now.

Today critical levels to watch:

Support: $1,800, $1,780

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

Silver testing the $21.35

Silver prices attempting to move higher but not close above the $21.35 level yet. The price made another bullish attempt on the resistance level today. If the price could close above $21.35 then there is a chance of bullish continuation toward the $23.00 – $23.90 area. On the other hand, a major bearish movement from the current level could bring silver prices down to test the $20.00 support level.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil gaining above $106.00

The bounce of crude oil prices from the $106.00 handle gaining more bullish traction. The price is moving above yesterday’s high and set to continue the bullish trend. On the upside, $130.00 will continue to become the target resistance level. However, if the price reverses the direction and close below $100.00 then traders will prepare for a new bearish trend.

Today’s critical level to watch:

Support: $100.00, $95.25, $90.00

Resistance: $106.00, $130.00