Gold slipped outside $1,280 – $1,300

The gold short-term bullish trend might come to an end after the precious metal slipped below $1,280 on previous day trading session. The slip below support level caused by optimism after Macron the pro-Europe Union and Le Pen passed the vote and will compete for the presidential chair in May.

The calming market might invite certainties and lower gold prices. This week, there is ECB conference which will give high impact to the gold. Traders might want to wait until the conference before placing long position. Meanwhile, long position favored near $1,250 – $,260 area.

Today critical level to watch:

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

Resistance: $1,280, $1,300

Silver printed new lower low

A slightly bearish situation on the silver daily chart after it printed lower low. Fortunately, the price immediately moved up and closed near the opening price. Today, the bear might make another attempt lower which is an opportunity for the bull to enter a long position at a lower price.

Today critical level to watch:

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

Resistance: $18.00, $18.50, $18.62, $18.95

Crude oil more weakness

Crude oil tried to move above $50, but the price rejected and closed lower. There is no bullish indication on the price, and the bull should stay sideline until the price reaches the long-term trendline. In the medium-long term, $50 will play a major part to limit the price increase.

Today critical level to watch:

Support: $48.50, $48.00

Resistance: $50.00, $51.50, $52.40, $54.50, $55.00