Gold cleared $1,250

The price of gold continues its upward movement after it broke above $1,250. It is only a matter if time until the precious metal reaches $1,280 – $1,300 resistance area. Traders will look for a re-test of $1,250 to add more long position.

Today critical level to watch:

Support: $1,250, $1,244, $1,220, $1,200, $1,184

Resistance: $1,280 – $1,300

Silver in favor for more appreciation

The price of silver made a close above the bearish trend line. The close above trendline confirmed more upside toward $18.50 resistance level which is the final target. Reaction at the resistance will determine where the price of silver move next.

Today critical level to watch:

Support: $18.00, $17.50, $17.20, $17.00

Resistance: $18.50

Crude oil

Despite the promising outlook for crude oil, the price continues its failure to close above its ascending triangle pattern. The daily close inside the triangle confirms more ranging movement until the close of this week. Traders will wait until breakout happen and preferably upside to place long position.

Today critical level to watch:

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

Resistance: $54.50, $55.00