Gold further pull back

Easing situation on North Korea missile threat brings clarity to the market. Traders and investors turned more optimistic and dumped safe-haven asset while collecting shares and another risky asset. Gold pulls back to bring the precious metal back below $1,280 – $1,300 area again. If the price

If the price continues lower, it might find support at the blue trend line where traders could look for a long position. As long as the price stay above $1,250 it is safe to assume the gold trend will continue bullish.

Today critical level to watch:

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

Resistance: $1,280, $1,300

Silver lower below $16.80 – $17.00 area

Silver experienced sell-off today and the price slide below $16.80 – $17.00 area. Traders around the world are dumping safe-haven asset which is the normal situation for silver. However, the bearish pressure might accelerate if silver failed the test of the trend line. Meanwhile, it is better to stay sideline and wait until the selling pressure diminish.

Today critical level to watch:

Support: $16.50, $16.00

Resistance: $16.80, $17.00, $17.50, $17.73

Crude oil double feign

Crude oil prices whipsawed between $48.50 – $49.00 and settled lower in the previous day trading session. Initially, the price attempt to move up above $49.00, but quickly sold by the bear to the only break below Friday low. Currently, there is a pause in the selling as crude oil touch $47.00 support level where there is also present trend line support.

If the bull could not bring the price higher from the trend line support, it might lose more ground and continue the previous drop below $45.00

Today critical level to watch:

Support: $47.31, $47.00

Resistance: $48.00, $48.50, $49.00, $50.00