Gold stick near daily SMA 200

Gold price is still stuck near the daily SMA 200 and has not yet confirmed the direction of the next movement. The price movement is likely to remain sideways for now near the averages and traders will now wait for further developments. The next higher swing high point or lower swing low point will confirm the next direction of movement.

Today’s critical levels to watch:

Support: $1,900, $1,850

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

Silver trade inside $23.00 – $23.90

Silver prices moved up and managed to return within the $23.00 – $23.90 area. Currently, the price is still on a bullish path and is likely to reach $23.90. Traders will watch the silver price movement between $23.00 – $23.90. When there is a close outside the area, it is a confirmation of the direction of the next movement.

Today’s Critical levels to watch:

Support: $23.00, $21.35, $20.00

Resistance: $23.90, $25.00, $26.00

Crude oil trades near $90.00

The bullish trend in crude oil prices continues with prices trading near $90.00. However, if the bearish correction continues then traders can wait near the $80.00 level for an opportunity for a bounce and enter a long position. As long as the price can continue to form higher swing high points and higher swing low points, the trend direction is still bullish.

Today’s critical level to watch:

Support: $90.00, $85.00, $80.00

Resistance: $95.00