Gold failed bullish attempt

Early on Monday trading session, the gold price show hopeful bullish move as Italian referendum result in Renzi defeat. However, the bullish movement encounter bear domination as the price reversed and moved lower than previous week low.

The gold price has target at the top of broken channel shown in the chart. The bull can expect aggressive buying volume if price happens to reach the level.

Today critical level to watch:

Support: $1,170, $1,160

Resistance: $1,177, $1,180, $1,190, $1,200, $1,220

Silver brewing hope

The silver price escaped its downtrend channel and bounced from it. There is hopeful situation for the precious metal despite the fact that the gold price looks to move lower. Silver price possible to move higher toward $17 and testing the trend at the level.

A break lower than $16.40 will put the bullish scenario on hold.

Today critical level to watch:

Support: $16.50, $16.40, $16.00, $15.80

Resistance: $16.75, $17.00, $17.20, $17.50

Crude Oil opened path higher

Weekly close as long bullish candle opened the path for crude oil. The bull only needs to tip the price higher than $51.9 which is the high of previous rally. $60-$62.5 will become the target of crude oil appreciation, but traders need to be careful if crude oil reversed its gain and closed lower than $40.

Today critical level to watch:

Support: $50.00, $48.00, $47.00

Resistance: $51.93, $52.50