Gold gain at the end of day

Gold price survives the test below $1,250 and moves higher on Monday. The price keeps sliding lower after the U.S dollar test on 100.64 resistance. Under the current situation, the bull could hold the position longer and move the stop order just below $1,239 low. If the price manages to close above $1,250 at the end of the day, traders could expect the scenario toward $1,280 – $1,300 in play.

Today critical level to watch:

Support: $1,250, $1,244, $1,237, $1,233, $1,229

Resistance: $1,263, $1,280, $1,300

Silver bullish leg soon reach resistance area

The path is up for silver, and the precious metal soon will hit the major resistance at $18.50. On the long term, there is a bullish channel formed on the daily chart and should help Silver progress higher. The best place to look for a long position is the bottom of the channel. Another place to place long position is the break above $18.50 and successful re-test of it.

Today critical level to watch:

Support: $18.00, $17.50, $17.20, $17.00, $16.80

Resistance: $18.50, $18.95

Crude oil new bullish leg

Bounce from the lower trendline and close above $48.50 put the crude oil trend back into bullish trend. Currently, if the price continues higher it will make the bear feel threaten, and a move higher than $54.50 will trigger sharp short squeeze and trigger previous failed ascending triangle pattern.

Bull traders could look for long position near the $50 handle.

Today critical level to watch:

Support: $50.00, $49.60, $48.50, $48.00

Resistance: $52.40, $54.50