Gold continues under pressure

The price of gold slide lower in the previous day and closed near Friday low. It is a bearish sign and there is follow through today by the bear. However, no significant lower low printed on the chart yet. If the pair will continue its bearish trend then we could expect gold to test $1,280 soon. On the lower side of $1,280, there is the trendline to watch.

Short positions are best taken near $1,300 or when breakout below $1,280 happens.

Today critical levels to watch:

Support: $1,280

Resistance: $1,300, $1,320, $1,325

Silver ranging between $15.00 – $15.20

No breakout happen yet in silver prices as the precious metal continue its movement inside $15.00 – $15.20. However, the bear has an upper hand and might trigger a sudden breakout. At the current time, it is better to take short positions near $15.20 with a tight stop above it.

Today Critical levels to watch:

Support: $15.00, $14.40

Resistance: $15.20, $15.60, $16.00

Crude oil further bullish sentiment

Crude oil launched from $60.00 in the previous day and confirmed the continuation of a bullish trend. The price currently hovering near the top trendline. No rejection and it seems the bull attempting to break out above the trendline. At the current time, traders who are looking short positions might want to wait until there is a strong bearish reaction.

Today critical level to watch:

Support: $60.00, $57.60, $55.80

Resistance: $65.00