Gold further bearish pressure

The short-term gold trend might have changed as the price closed below the red channel bottom. The closure also put more distance at $1,337 level. There is no major change in the trend yet as gold stay above $1,300. As long as the price stay above $1,300 we could expect gold will continue its uptrend.

Today critical level to watch:

Support: $1,325, $1,320

Resistance: $1,337, $1,340, $1,350, $1,360

Silver upsetting drop

The bear made a surprise attack against silver and the price tumble from $17.00 level to close near $16.50. It is an upsetting loss for the bull and reset all of the bullish advantage built in the previous week. Silver currently back inside the triangle consolidation and might test $16.80 before further selling. If the price close below the red trendline, then it is the time to stay away from the silver long position.

Today critical level to watch:

Support: $16.50

Resistance: $16.80, $17.00, $17.50

Crude oil no change in trend

Crude oil riding up slowly and the bull is buying every slump. There is no reason to sell or take a short position yet in crude oil. Traders will continue to watch the uptrend until test happens at $70.00 resistance. A strong bearish pattern near $70.00 might indicate a short-term reversal.

Today critical level to watch:

Support: $65.78, $65.00, $62.80

Resistance: $70.00