Gold bounced from $1,780 – $1,800

Gold was under pressure and fell toward the $1,780 – $1,800 area. The price managed to stage a bounce from the area and there is bullish follow-through today. However, gold prices seem limited near the daily SMA 200. Traders will wait for a close above the daily SMA 200 to confirm further upside in the gold prices.

Today critical levels to watch:

Support: $1,800, $1,780

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

Silver return above $21.35

Silver prices build bullish pressure and return above the $21.35 level. At the current time, the price continues building bullish pressure and will attempt upward movement to target $23.00. Traders could use the $21.35 level as a place to enter long positions while placing stop orders below the previous swing low.

Today’s Critical levels to watch:

Support: $21.35

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

Crude oil extends bullish movement

The conflict between Russia and Ukraine has not concluded yet and the supply chain disruption continues to grow. More countries joined the sanctions effort against Russia. Crude oil prices will continue its gain under the current situation and traders will continue to avoid short positions. Technically, the price continues printing higher high and higher low which confirms the continuation of the bullish trend. On the upside, $130.00 is the bullish target for the current upward movement.

Today’s critical level to watch:

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

Resistance: $130.00