Gold closed below daily SMA 200

Gold prices could not maintain the close above daily SMA 200 and $1,800 handle. The price closed below both levels yesterday which might indicate further weakness. At the current time, traders will monitor the price movement between $1,780 – $1,800.

Further weakness below $1,780 might become bearish confirmation.

Today critical levels to watch:

Support: $1,780

Resistance: $1,800, $1,850

Silver waiting for a test on the yellow box area

Silver prices reversed its upward movement toward the $25.00 – $26.00 area and made a bearish close yesterday. The price closed lower and was not far from the yellow box area. It seems the price might start moving lower to test the area and waiting for more bullish confirmation.

If the price could bounce from the area then there is a chance for bullish continuation toward the $25.00 – $26.00 area.

Today Critical levels to watch:

Support: $23.90, $23.00, $21.35, $20.00

Resistance: $25.00, $26.00

Crude oil consolidation between $67.20 – $70.00

Crude oil prices have not broken the $70.00 resistance level. The price slowly turns lower and is set to test the $67.20 level. Traders will expect consolidation between $67.20 – $70.00 for now and will wait for a breakout. On the upside, a close above $70.00 is bullish continuation confirmation. On the downside, a close below $65.00 is a major bearish confirmation.

Today critical level to watch:

Support: $67.20, $65.00, $60.00

Resistance: $70.00, $77.13