Gold supported at the trendline, looking for a bounce

We have downward pressure dominating gold prices in the previous trading day. Gold descend below the trendline but could not make a new lower low. In U.S session, gold started to climb and surpass Wednesday high before settled inside the Wednesday daily range. Today, the bull made an attempt to bounce from the trendline.

Even though the outlook might turn bullish, we think the upside is limited to $1,280. Next trend will depend on how the bear reacted to the current bullish attempt at $1,280.

Today critical levels to watch:

Support: $1,265, $1,260

Resistance: $1,280, $1,300, $1,320, $1,325

Silver bounce from $14.80

There was no bearish continuation yet in silver and the bull manages to reverse the bearish pressure at $14.80. A bounce happened and the price tested the trendline before move lower. Today, the price might move sideways inside the triangle range shown on the chart and waiting for a breakout.

Today Critical levels to watch:

Support: $14.80, $14.40

Resistance: $15.00, $15.20, $15.60, $16.00

Crude oil waiting for further bullish continuation

The announcement of the end of waiver to import Iranian oil boost crude oil prices. The situation might develop into an extreme bullish situation depend on how China reacted. China is the no. 1 importer of Iranian oil, switching their demand for oil elsewhere should create volatility in the market.

Crude oil expected to continue its upward movement toward $67.20 and $70.00

Today critical level to watch:

Support: $65.00, $60.00, $57.60, $55.80

Resistance: $67.20, $70.00