Gold bullish continuation toward daily SMA 200

Yesterday major bullish breakout in gold prices send the price to close higher above $1,800. Gold prices extend its bullish movement today and getting near $1,850 and the daily SMA 200. It seems the price will reach both resistance levels soon. Traders who have long positions could continue to hold the positions while monitoring the reaction at the resistance levels.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850

Silver stuck near the previous day’s high

Silver prices confirmed the bullish trend by bouncing from the $26.00 support level. The price closed higher yesterday and there is a bullish continuation today. However, the price seems losing momentum and trade back below the previous day’s high. We still think the price will continue its bullish trend and target $30.00 – $31.50 resistance levels in the long term.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35, $20.00

Resistance: $27.00, $30.00, $31.50

Crude oil trade near $65.00

Crude oil prices pushed lower today below $65.00. Fortunately, the price could recover from the bearish pressure and currently trading near its opening level also $65.00. Traders will expect crude oil prices to extend its bullish movement and target the $70.00 resistance level.

Today critical level to watch:

Support: $65.00, $60.00, $57.60, $55.80, $54.50

Resistance: $67.20, $70.00