Gold trading sideways

Gold prices continue trading sideway and currently trade near the weekly opening level. As mentioned before, the price is waiting for the release of U.S job data. A close above the daily SMA 200 will confirm a bullish continuation. On the other hand, a close below $1,680 is a major bearish continuation confirmation.

Today critical levels to watch:

Support: $1,700, $1,680

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

Silver follow gold direction

Silver prices extend its sideway movement not far from the yellow box area and follow gold prices direction. No confirmation yet on where the price will move next. Traders will wait for a close above the yellow box area for continuation toward the $25.00 – $26.00 area. On the other hand, a close below $21.35 is confirmation for bearish continuation.

Today Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil bounce from $77.13

The price suffered a major bearish pullback yesterday but at the end of the day, it managed to recover and made a bullish close. The bullish close is confirmation of the continuation of the bullish trend. Under the current situation, traders will continue to hold long positions and avoid short positions.

On the upside, $82.72 is the bullish target.

Today critical level to watch:

Support: $77.13, $70.00, $67.20

Resistance: $82.72