Gold testing the daily SMA 200
Gold prices is trading upward as it breakout above $1,780 yesterday. The price closed near the daily SMA 200 and currently testing the level. If a bullish breakout happens then traders could expect continuation toward the $1,850 resistance level. On the other hand, a close below $1,780 will cancel the bullish outlook.
Today critical levels to watch:
Support: $1,700, $1,680
Resistance: $1,780, $1,800, $1,850
Silver trading inside the yellow box area
Silver prices are on the upward path after the previous bullish close. The price is expected to continue moving upward and test the top of the yellow box area. If a close above the box happens then traders could expect continuation toward the $25.00 – $26.00 area. On the other hand, a bearish close below the yellow box area could indicate a bearish continuation.
Today Critical levels to watch:
Support: $21.35, $20.00
Resistance: $23.00, $23.90, $25.00, $26.00
Crude oil hanging near $82.72
Crude oil prices continue printing neutral close near the $82.72 resistance level. There is no major reaction yet from the resistance level. If the price could continue to climb and close above it then the bullish trend will continue. On the other hand, if a bearish correction happens then $77.13 is the level to watch for a possible bounce.
Today critical level to watch:
Support: $77.13, $70.00, $67.20