Gold closed above $1,300

The top of channel test is on the card now as gold close above $1,300. However, there is not much movement yet in the precious metal today. If gold could breakout higher above the top of the channel then we could expect the long-term trend will turn bullish. On the other hand, a close below $1,300 could trigger bearish continuation and retest on $1,280.

Today critical levels to watch:

Support: $1,300, $1,280

Resistance: $1,320, $1,325

Silver stay inside $15.00 – $15.20

Even though we have a higher move in the silver prices yesterday. The bull could not deliver a decisive close at the end of the day. Silver closed below $15.20 by the end of the day and formed a bearish pin bar pattern. It is initial confirmation that the price will continue its ranging movement inside $15.00 – $15.20. The bull currently making attempt to breakout higher. Will we see a close above $15.20 today?

Today Critical levels to watch:

Support: $15.00, $14.40

Resistance: $15.20, $15.60, $16.00

Crude oil no change to the bullish trend

The price climbed as high as $64.78 before reverse downside yesterday. No change to the bullish trend yet in crude oil and traders could expect further upward continuation as long as conflicts continue persists. If the price corrected toward the trendline then traders could look for small long positions.

Today critical level to watch:

Support: $60.00, $57.60, $55.80

Resistance: $65.00