Gold a sliver of hope above $1,220

Today high is $1,225, and it is not a wrong quote which mean gold able to make a move above $1,220. The move above $1,220 gives hope for the bull for a higher price in gold this year. This also tells long-term outlook might shift to bullish once the price claimed the level.

Meanwhile, the price expected to continue its movement inside $1,200 – $1,220 range. Traders need to wait though until a close either above or below the range.

Today critical level to watch:

Support: $1,200, $1,184, $1,180, $1,166, $1,160, $1,150

Resistance: $1,220, $1,250

Silver building momentum

The precious metal continues to move higher above $17.50 handle, but it was sold in the middle of the day and return near its opening price. The price expected to continue its sideway movement between $17.20 – $17.50 before Non-farm employment data this Friday.

Today critical level to watch:

Support: $17.20, $17.00, $16.75, $16.50, $16.40

Resistance: $17.50, 18,50

Crude Oil proceeding smoothly inside triangle

No change in the current trend of crude oil. The price continues its movement inside the triangle formation on daily chart. The price limited inside $52.40 – $54.50 range and looking for a burst upside. The safest scenario trader could take is the break and bounce from $54.50.

Today critical level to watch:

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

Resistance: $54.50, $55.00