Gold set to retest daily SMA 200

Gold prices break out and closed above daily SMA 200 also $1,850. The precious metal seems to trade lower at the current time and might start a bearish correction. Traders could use the daily SMA 200 and the $1,850 support level as places to enter long positions.

Today critical levels to watch:

Support: $1,850, $1,800, $1,780

Resistance: $1,900, $2,000

Silver bearish pin bar pattern

A bearish pin bar pattern formed yesterday after silver prices printed a higher high. There is bearish follow-through today which brings the price below the pattern low. Traders could use the $27.50 and trendline as support levels to enter long positions.

Today Critical levels to watch:

Support: $27.00, $26.00, $25.00, $21.35, $20.00

Resistance: $30.00, $31.50

Crude oil consolidating inside the yellow box

There is a bullish attempt in crude oil prices but it got rejected from the $67.20 resistance level. It seems the price trading inside a yellow box area and set to test the bottom of the box soon. Traders could continue to hold long positions and expect a bullish breakout toward 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