Gold time to resume down move?

Gold bounced in the previous week reached $1,260 – $1,265 area and stuck below it. The area is a flip level where support turned resistance, and the initial reaction might indicate the bear is ready to push the price lower. If the bear could close the price below $1,250 this week, we might see gold touch $1,200 – $1,220 area next month.

Today critical level to watch:

Support: $1,250, $1,240, $1,220, $1,200

Resistance: $1,258, $1,280, $1,300

Silver neutral close

Silver sentiment stays bearish after the price broke below $16.00 support level. The bull manages to close the price near $16.00 broken support and turn the short-term trend neutral. Traders could expect the price is hovering near the level and waiting for a trigger.

We expect silver will continue its bearish move until January following the bounce in U.S dollar index.

Today critical level to watch:

Support: $15.85, $15.60, $15.00

Resistance: $16.00, $16.50, $16.80

Crude oil no change inside triangle consolidation

Crude oil prices traded inside the triangle consolidation, and there is no change to the latest analysis. Traders could continue trade the triangle range with bullish bias as $60.00 resistance is not far from current level. However, there is possibility crude oil could start correction to $54.50 broken level in the medium-term.

Today critical level to watch:

Support: $56.00, $55.23, $54.50, $52.40

Resistance: $57.60, $60.00, $62.50.