Gold ready to test $1,250

The first test of $1,250 resistance level put gold back lower to $1,200 support level. Currently, the price is moving back near the resistance and ready to push higher above it. If the price could move higher than the resistance, it will challenge $1,280 – $1,300 resistance area which is major resistance area.

Today critical level to watch:

Support: $1,244, $1,237, $1,233, $1,229, $1,220

Resistance: $1,250, $1,263, $1,280, $1,300

Silver move past $17.50

Silver broke above $17.50 today and might close above it. On the upside, there is trendline resistance which will hinder further appreciation of price. Will the silver move past the resistance or will it bounce lower?

Today critical level to watch:

Support: $17.50, $17.20, $17.00, $16.80, $16.00

Resistance: $18.00, $18.50

Crude oil bearish outlook

No switch to bullish outlook yet in crude oil prices. The price stick near support and risk the move lower below the trendline. Traders who want to place long position might proceed with caution, especially if the trendline was broken.

Today critical level to watch:

Support: $47.00, $46.70

Resistance: $48.00, $48.50, $49.60, $50.00