Gold floating lower

The gold price is moving up and has yet to reach $1,300. It is currently looking for support level which is expected present at $1,280. Unfortunately, the precious metal seems like losing ground and might break lower below $1,280. It is normal for the bull, and the break below $1,280 might find support at $1,260.

If the price reaches $1,260, it is the best location to look for a long-term long position with a stop below $1,252.

Today critical level to watch:

Support: $1,280, $1,260, $1,250, $1,244

Resistance: $1,300

Silver inside triangle consolidation

Silver is struggling near $18.50 resistance, and the price has tested the resistance second time without a break. Currently, it sits near the bottom of blue trendline or triangle consolidation and might bounce upward to test the resistance again. If a break happens, it will trigger sharp breakout with upward breakout favored.

Today critical level to watch:

Support: $18.00, $17.80, $17.50, $17.20, $17.00

Resistance: $18.50, $18.62, $18.95

Crude oil oversupply

The world is trying to answer oversupply problem by cutting production, but it seems U.S discoveries of oil deposit and higher production annul the effort to bring crude oil prices higher. Crude oil slide below $52.40 handle once again, and this time it might continue lower than the $50 handle breaking below the long-term trendline.

The bull needs to protect $50 handle and immediately bring the price above $52.40 otherwise the price will continue its slide.

Today critical level to watch:

Support: $50.00, $48.50, $48.00

Resistance: $51.50, $52.40, $54.50, $55.00