Gold pull-back at the start of week

Bullish momentum in the previous week trading brought gold inside $1,280 – $1,300 area and confirm the strong upward trend. The price of gold experience pull-back today toward the $1,280 support level and provide an opportunity for long position for the trader who misses the previous bullish leg.

The target for upward movement lies above $1,300 and could continue into a long-term bullish trend, especially when geopolitical tension heightened.

Today critical level to watch:

Support: $1,280, $1,258, $1,250, $1,244, $1,240

Resistance: $1,300

Silver consolidation before further upside

Silver manages to regain $17.00 footing and stay above it persistently. Although the price is hovering lower today, it might stay above $17.00 and continue upward soon. Traders could look for long position between $16.80 – $17.00.

Today critical level to watch:

Support: $17.00, $16.80, $16.50, $16.00

Resistance: $17.50, $17.73

Crude oil feigned drop

Crude oil made an unexpected movement before market close on Friday session. The price broke lower below $48.50 but nearing the end of the session, it starts to move up and closed as a bullish candlestick. Bullish close on the daily chart is a big alarm from the bull and signal trapped bear might take losses if the price move above Friday high.

At the current time, the break above Friday high is confirmation to take a long position, on the other hand, the break of low considered further bearish attempt on the card.

Today critical level to watch:

Support: $48.50, $48.00, $47.31

Resistance: $49.00, $50.00