Gold hovering lower

Brewing optimism after French election, a tax-cut plan by President Trump, and the optimism ECB will start raising interest-rate put gold under the back driver. The precious metal continues moving lower and might test $1,250 – $1,260 before any bounce.

Traders could look for long position near $1,250 – $1,260 area after a bullish pattern formed.

Today critical level to watch:

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

Resistance: $1,280, $1,300

Silver continue losing streak

The bear is struggling after the 7th consecutive lower close on the daily chart. There is a sign of bull near $17.730, but the selling pressure is strong and knocks out the level. Currently, the price is moving near the previous broken trendline. Will it find support and bounce from the trend line?

Today critical level to watch:

Support: $17.20, $17.00

Resistance: $17.50, $17.80, $18.00, $18.50

Crude oil attempt at $50

Crude oil lifted after U.S crude oil inventory shrinks more than expected. The market expects 1.1 million barrels deficit this week, but EIA announced 3.6 million barrels deficit which is positive for the price of crude oil.

Despite the bullish news, crude oil continues limited below $50, if it could not close above the handle, it should continue to break lower soon.

Today critical level to watch:

Support: $48.50, $48.00

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