Gold stick near daily SMA 200

A significant increase in the price of gold has occurred and the price closed near the daily SMA 200. Currently, the price has not continued its increase and is seen consolidating near the averages. There is a possibility that the price will move up to continue its strengthening with strong bullish momentum. However, if the price fails to form a higher swing high point and experiences a sharp decline, there will be no change to the bearish trend.

Today’s critical levels to watch:

Support: $1,850, $1,800

Resistance: $1,900, $1,950, $2,000, $2,069, $2,074

Silver retest $23.00

Silver price continued its strengthening above $21.35 and soon reached $23.00. Traders will now wait for a reaction from the price near the $23.00 mark. If the price can strengthen and close above $23.90 then the bullish trend is likely to continue. Meanwhile, if a rejection occurs then the $20.00 point could become a downside target.

Today’s Critical levels to watch:

Support: $21.35, $20.00

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

Crude oil waiting for bullish continuation

Crude oil prices managed to rise back above $85.00 and are expected to continue strengthening towards $90.00 and $95.00. Currently, there is a weakening that has lasted 2 days. There is a possibility that the price will again test the $85.00 level. If a bullish reaction occurs, traders can add to long positions.

Today’s critical level to watch:

Support: $85.00, $80.00

Resistance: $90.00, $95.00