Gold checkpoint

Gold arrived at first checkpoint $1,250, though it closed below the support level at first try. The bull does not take long to return to the market and bring the price back above $1,250. If the bull could close the price above $1,250, it will avoid short-term sell-off below the support level.

On the upside, if the bounce continues, it will test daily SMA 200.

Today critical level to watch:

Support: $1,250

Resistance: $1,258, $1,280, $1,300, $1,313.22

Silver first bullish close after eight consecutive losses

Silver down move found support previous day and start a correction today. The correction has a possible upper limit at $16.00 broken support. The selling expected will continue after the broken support tested and the bear adds more position near it. As long as there is no strong close above $16.00, no change to the bearish outlook.

Today critical level to watch:

Support: $15.50, $15.00

Resistance: $16.00, $16.50, $16.80

Crude oil bounced

The bearish momentum candle which acts as warning seems to provide a false signal and crude oil return to starting point. The price return is positive for the bull, and it might continue higher to reach the long-term target at $60.00. However, it is important to observe the price reaction at $57.60 level. Failure to move past this level will prove the buying only immediate reaction.

Today critical level to watch:

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

Resistance: $57.60, $60.00, $62.50.