Gold bounce from trendline

The precious metal manages to hold out above the trendline and produce bounce today. However, $1,280 will still play a major role in deciding gold next trend. Without a breakout and close above the level, traders could expect gold attempt to break lower below the trendline. Today is the last trading day of the week, we will wait for the closing price at the end of the day.

Today critical levels to watch:

Support: $1,265, $1,260

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

Silver looking for a breakout above the triangle

Silver challenging the top of the triangle and surpass it today. The breakout is valid for now, but it could turn into fake breakout if the price fallback into the triangle pattern. At the current time, the price is challenging $15.00 resistance, rejection from the level will push silver down to test $14.80.

Today Critical levels to watch:

Support: $14.80, $14.40

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

Crude oil started bearish correction

After maintaining the bullish pressure toward $67.20, finally, crude oil made two days bearish closes. The bearish close trigger further selling today and crude oil falls below $65.00. If the bearish pressure continues then crude oil might reach $60.00 where traders could look for long positions.

Today critical level to watch:

Support: $60.00, $57.60, $55.80

Resistance: $65.00, $67.20, $70.00