Gold stick near $1,780 – $1,800 resistance area

Gold prices managed to print another bullish close near the $1,780 – $1,800 area. The price might continue consolidating near the are and waiting for further reactions. If the price get rejected and start moving lower then $1,680 – $1,700 is the area to watch for long positions. On the upside, daily SMA 200 is the major resistance level to watch for bearish reactions.

Today’s critical levels to watch:

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

Resistance: $1,780, $1,800

Silver bearish close near $21.35

Silver prices maintain a position above the $21.35 level despite the bearish close yesterday. The price shows bullish reactions today which might signal a bullish continuation. If the price could continue building more bullish pressure and surpass yesterday’s high then the bullish trend will continue toward the $23.00 – $23.90 area.

Today’s Critical levels to watch:

Support: $21.35, $20.00, $18.50, $17.73

Resistance: $23.00, $23.90

Crude oil bounced from $85.00

Yesterday, crude oil prices were under bearish pressure and fell below the $85.00 support level. However, the bearish pressure subsided and the price closed the day above $85.00. At the current time, the price is building bullish pressure and will continue upward to target $90.00 also $95.25. No change to the sideway situation between $85.00 – $95.25 means traders could continue applying range trading strategies.

Today’s critical level to watch:

Support: $85.00, $80.00, $77.13

Resistance: $90.00, $95.25