Gold aim for daily SMA 200?

The upward correction of gold prices has reached $1,260 – $1,265 where it is expected to stall and reversed downside. However, there is no weakness yet and the price currently testing the top of the range. Will the bull continue to push the price toward SMA 200 before gold ready for a direction change?

Short position from the top of the range $1,265 and daily SMA 200 might become high opportunity position traders could watch.

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 avoided short-term sell-off below $16.00 and opened up a scenario to test $16.50 before further downside. Traders could wait until the precious metal prices hit $16.50 and form a bearish pattern. On the other hand, a trade from $16.00 to $16.50 might be successful but not suggested.

Today critical level to watch:

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

Resistance: $16.50, $16.80

Crude oil no outlook change

Crude oil proceeds inside the triangle consolidation and sticks near $57.60 resistance. Today U.S crude oil inventory data show sharper deficit than expected. The data show 6.3 million barrels deficit compared to 3.6 million barrels expectation. Even though the data bullish for crude oil, the market reacted opposite and drove crude oil prices down from $57.89 to below $57.60.

Will crude oil maintain the position above $57.60 by the end of the day?

Today critical level to watch:

Support: $57.60, $56.00, $55.23, $54.50, $52.40

Resistance: $60.00, $62.50.