Gold set to test $1,780 – $1,800

The upward movement of gold prices managed to print a bullish close not far from the $1,780 – $1,800 area. The price will soon test the area and traders will monitor the reactions. If the price continues upward then a test on the daily SMA 200 will happen too. A close above the averages will become the long-term confirmation of trend reversal.

If the price reverses the bullish movement and starts moving lower then the $1,680 – $1,700 area is the place to watch for long positions.

Today’s critical levels to watch:

Support: $1,700, $1,680, $1,600, $1,585

Resistance: $1,780, $1,800

Silver maintains its position above $21.35

Silver prices continue to maintain the close above the $21.35 resistance level. The price will continue to consolidate near the level and wait for the trigger to move. If the price trade lower then $20.00 is the level to watch for a bullish reaction. On the upside, silver prices will target $23.00 and $23.90 resistance levels when a bullish continuation happens.

Today’s Critical levels to watch:

Support: $20.00, $18.50, $17.73

Resistance: $21.35

Crude oil trading between $85.00 – $90.00

Crude oil prices traded upward and tested the $90.00 level. No breakout above the level yet which means the price might consolidate between $85.00 – $90.00. If the price could extend the bullish movement then $95.25 is the resistance level to target next. If a close below $85.00 happens then the bearish trend will continue.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25