Gold consolidation before further breakout

Gold movement inside the $1,280 – $1,300 range is anticipated, and we could expect further upside movement. Meanwhile, the precious metal is consolidating after the break inside $1,280 – $1,300 range and traders could take this opportunity to trade the range with an upside bias.

The price is moving lower today, it might not reach $1,280 as previous day bullish candlestick should maintain the short-term sentiment.

Today critical level to watch:

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

Resistance: $1,300, $1337

Silver bought at $16.80

Silver prices experience took profit Yesterday, and the price tipped $16.80 support level. The price then moves up to close above opening level. Today, there is mild selling but stay above previous day opening level. There might not be much action today, and silver could continue trading inside $16.80 – $17.00.

Today critical level to watch:

Support: $16.80, $16.50, $16.00

Resistance: $17.00, $17.50, $17.73

Crude oil unexpected sell-off

Crude oil was unexpectedly selling-off after the sharp bounce from the trend line. Fortunately, the trend line hold-out for the second time and the price currently hovering above it. The bull is not safe yet and needs to close the price above previous day high. Otherwise, we could expect more sell-off to break the trendline and lower than $46.5 support level.

Today critical level to watch:

Support: $47.31, $47.00

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