Gold testing the daily SMA 200

The upward movement of gold prices seems halted as the price is currently under pressure. Gold prices currently testing the daily SMA 200 and maintaining a position above the averages. Traders will monitor the closing level of the price at the end of the week. If the price breakout and close below the daily SMA 200 at the end of the week then we might see a bearish continuation toward the $1,780 – $1,800 area.

Today critical levels to watch:

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

Resistance: $1,900, $1,953

Silver sudden bearish movement

Silver prices move lower with strong bearish momentum toward the $21.35 support level. No-touch on the level fortunately and the price manage to recover most of the loss. At the current time, silver prices are trading near yesterday’s low and will attempt to close the day above it.

We still think the price could continue its bullish correction toward the $23.00 – $23.90 area.

Today’s Critical levels to watch:

Support: $21.35

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

Crude oil slowly moving upward

Crude oil prices direction is upward toward the $130.00 resistance level. There is no change to the situation yet. If the price starts moving lower again then traders could use the moment to enter long positions near the support level. On the lower side, $106.00 is the nearest support level to watch.

Today’s critical level to watch:

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

Resistance: $130.00