Gold weak bounce

Gold survived the test of $1,337 support, but the precious metal must endure the second test today. Although the bull has advantage after the previous bullish close, they might want to stay sideline and close the price above $1,337 again. Traders who are looking for the long position could place an order near $1,337 with a stop below previous day low.

The upward target for bullish movement resides at $1,360.

Today critical level to watch:

Support: $1,340, $1,337, $1,325, $1,320, $1,300

Resistance: $1,357, $1,360

Silver gloomy outlook

Silver jumped on the previous day after the Fed interest-rate decision. The rally did not take long before taking downturn today. If the bearish pressure continues and the price closed below $17.00, we might see the bear back in control.

Today critical level to watch:

Support: $17.00, $16.80, $16.50

Resistance: $17.50, $17.73, $18.00, $18.50.

Crude oil new bullish leg?

Crude oil drop halted in the previous trading day even though U.S oil inventory posted larger than expected surplus. U.S crude oil inventory recorded surplus of 6.8 million barrels vs. 0.1 million barrels. Despite the bearish news, crude oil prices take an upward path and ready to challenge recent high.

There is no setup to trade yet in crude oil, and it is better for traders to stay sideline.

Today critical level to watch:

Support: $62.80, $62.50, $60.00

Resistance: $65.00