Gold stick near $1,850 and SMA 200

Gold prices managed to return above the daily SMA 200 and $1,850 handle. No bullish continuation yet as the price currently testing both levels. If the price could bounce from the level then gold prices will continue upward to test $1,900. Traders will observe the price reaction at $1,900, we might see a major bearish reversal from the level or a major bullish breakout and continuation toward $2,000.

Today critical levels to watch:

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

Resistance: $1,900, $1,953

Silver continue upward toward $23.00 – $23.90

The upward movement of silver prices is slow after the bounce from the $21.35 support level. Although slow, the price is expected to test the $23.00 – $23.90 area.  At the current time, the situation of silver price is weak and traders will stay cautious when taking long positions. When the price is testing the $23.00 – $23.90 handle, traders will observe closely for a bearish reaction or a major bullish breakout above it.

Today’s Critical levels to watch:

Support: $21.35

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

Crude oil hanging near the previous week’s high

Crude oil prices try to build more bullish pressure to extend the upward movement toward the $130.00 handle. We think the price will continue to maintain bullish pressure and target the $130.00 handle in the medium-long term. However, if the price start moving lower again and print a new lower low then the bullish trend will be cancelled.

Today’s critical level to watch:

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

Resistance: $130.00