Gold waiting for further reaction

Gold prices moving toward the $1,780 – $1,800 area but have not reached the area yet. The price currently consolidating near the level and waiting for a reaction. Similar to the previous analysis, if the price could close above daily SMA 200 then the bullish trend will continue. On the other hand, major bearish rejection could trigger bearish continuation to retest $1,680 – $1,700.

Today critical levels to watch:

Support: $1,700, $1,680

Resistance: $1,780, $1,800, $1,850

Silver hovering below the yellow box area

Silver price’s upward movement almost reach the yellow box area to test it. At the current time, the price is trading between $21.35 – $23.00. If the bullish pressure continues to build up then we might see a close above the yellow box area and continuation toward $25.00 – $26.00.

Today Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil bullish continuation above $77.13

A close above the $77.13 resistance level is a bullish continuation confirmation for crude oil prices. If the price makes a bearish correction toward $77.13 then traders could use the chance to enter long positions. On the upside, Fibonacci 138.2 at $82.72 is the nearest target to observe.

Today critical level to watch:

Support: $70.00, $67.20

Resistance: $77.13