Gold bounced from support $1,200 – $1,220

Correction in Gold price after it touched $1,250 drive the price down toward $1,200 – $1,220 support area. The area act as strong support level as expected and the precious gold might be able to reach $1,280 – $1,300 without any major change in fundamental.

Today critical level to watch:

Support: $1,220, $1,200, $1,184, $1,180, $1,166

Resistance: $1,250, $1,280 – $1,300

Silver consistently up

Even though Yesterday silver closed as a bearish candlestick. The small bearish candlestick is insignificant compared to to the upward movement from $16 to $17.50. The price expected to continue its upward movement at least until it touches the bearish trendline.

Today critical level to watch:

Support: $17.50, $17.20, $17.00, $16.75, $16.50

Resistance: $18.00, $18.50

Crude oil small setback opportunity to buy

The setback in crude oil price happened after three consecutive bullish candlesticks. This setback provides chance for the bull to add more position as it almost reaches the trendline. The temporary target for the upward movement is $54.50 resistance. A long-term target for bullish movement in crude oil lies at $60.

Today critical level to watch:

Support: $52.40, $51.93, $50.50, $50.00, $49.60

Resistance: $54.50, $55.00