Gold not much advantage above $1,337

The bull could not widen the advantage against the bear above $1,337, and the precious metal prices stuck trading near the broken resistance. There is no indication yet for next movement of gold. However, it looks like we could expect the yellow metal will test $1,337 soon.

Traders could prepare for long position near $1,337 and the bottom of the red channel when retest and the bullish pattern formed.

Today critical level to watch:

Support: $1,337, $1,325, $1,320

Resistance: $1,340, $1,350, $1,360

Silver breakthrough happen

The bull is enjoying the bullish trend in silver after the jump from the broken triangle. The price of silver also break above $17.00 handle and maintain a position above it. There is no reason to short the precious metal and traders could start looking for a long position near $17.00.

Today, retest happen on $17.00, and there is a reaction. If silver could close the day near opening price or above it, then the bull has more reason to push the price higher next week.

Today critical level to watch:

Support: $17.00, $16.80, $16.50

Resistance: $17.50

Crude oil climb slowly

Crude oil launched after the retest of $65.78, and there is nothing to stop the bull yet. The price could continue move higher and reach $70.00 handle. Traders might want to stay sideline at the current time.

Today critical level to watch:

Support: $65.78, $65.00, $62.80

Resistance: $70.00