Gold stick near the SMA 200

There was bearish pressure on gold prices yesterday which brought the price lower. However, the bearish pressure immediately recedes and the price could close the day above the daily SMA 200. At the current time, gold prices seem to continue its consolidation near the averages and waiting for a further bullish trigger to move upside.

Today critical levels to watch:

Support: $1,800, $1,780

Resistance: $1,850

Silver bearish close

Silver prices upward movement paused yesterday as the price formed a bearish close. The bearish close happened at the top of the yellow box area. It seems the price will continue trading near the top of the yellow box area for now while waiting for a trigger to move.

If the price could continue upward then $25.00 – $26.00 is the nearest target area.

Today Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil hovering below $70.00

The upward movement of crude oil prices seems paused before the price could reach the $70.00 handle. Traders are waiting for the resistance test to determine the next direction. If the price could close above the $70.00 handle then the bullish trend is expected to continue.

Today critical level to watch:

Support: $67.20, $65.00, $60.00

Resistance: $70.00, $77.13