Gold tested the daily SMA 200

The bearish pressure on gold prices finally pushed the price down near the daily SMA 200. Today, gold shows a bullish reaction from the daily SMA 200. Will it turn into a bullish rally? traders will continue to monitor the price movement for now. There is a U.S CPI data release today which might trigger volatility in the market.

If the price moves lower and closes below the daily SMA 200, there is a chance of a bearish continuation toward the $1,780 – $1,800 area.

Today critical levels to watch:

Support: $1,850

Resistance: $1,900, $1,953, $2,000, $2,074.69

Silver bounce from $21.35

Silver prices were under pressure yesterday and closed near the $21.35 level. The price does not continue the bearish movement and shows a bullish reaction today. If the price could build more bullish pressure and close with strong bullish pattern then there is a chance of upward movement up to the $26.00 resistance level.

Today’s Critical levels to watch:

Support: $21.35

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

Crude oil hanging above $100.00

Crude oil prices pushed lower yesterday and were set to target the $95.25 support level. However, the price traded upward today and holds out above the $100.00 handle. The overall situation of crude oil prices is bullish with higher high printed. If the price could form a higher swing low then there is chance of bullish continuation.

Today’s critical level to watch:

Support: $95.25, $90.00

Resistance: $100.00, $106.00, $130.00