Gold time to resume bearish move?

Gold closed the day between $1,260 and $1,265 on Monday. The price continues upward in Tuesday trading session and touches $1,265 resistance. There is a bearish reaction, and the price reversed as soon as the resistance touched. Will gold resume its bearish movement and break lower to reach $1,200 – $1,220?

Traders could place short position at the current level but stay on alert if the price stays near $1,260 for several days.

Today critical level to watch:

Support: $1,258, $1,250, $1,240, $1,220, $1,200

Resistance: $1,280, $1,300

Silver climb above $16.00

Silver is fragile, but it manages to close above $16.00 on Monday which brings hope for the bull. This week, it is important for silver to close above $16.00 to stop the price from further falling. Long position at the current level is reasonable, but the chance for success is low.

Today critical level to watch:

Support: $16.00, $15.85, $15.60, $15.00

Resistance: $16.50, $16.80

Crude oil more consolidation

Crude oil might become the mover in coming months or next year. Conflict brewing in the Middle East after the U.S acknowledge Jerusalem as Israel capital. Meanwhile, the price might continue its consolidation inside the triangle pattern shown on the chart. Escalating conflict is not the world want, but more conflict will incite rally in crude oil prices.

Today critical level to watch:

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

Resistance: $57.60, $60.00, $62.50.