Gold gave up $1,337 support

Gold might be ready for a bearish round after the precious metal gave up $1,337 support level. There is support level around $1,325 where the bear might have difficulties to break. Traders will watch the price reaction this week, and if there is a lower close below Friday candlestick, then we could expect a bearish continuation on the card.

From the fundamental side, it looks like U.S dollar index could move up further as the expectation for interest-rate increase mounting.

Today critical level to watch:

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

Resistance: $1,337, $1,340, $1,357, $1,360

Silver bearish advantage

The bear returned in silver and made sharp break below $17.00 and $16.80 which is not a good sign. Today, the price bounced from a level near $16.50 and currently testing $16.80 as resistance. The close below $16.80 will confirm the bearish outlook, and we will see another test on $16.50. However, a close above $16.80 will help the bull to test $17.00.

Today critical level to watch:

Support: $16.50

Resistance: $16.80, $17.00, $17.50, $17.73

Crude oil time for correction?

Crude oil is losing steam at the end of the week and settle the day lower but above $65.00. Today, the bear trying to bring the price lower and almost reached Friday low. Without much momentum, we might see crude oil settle inside Friday range. $59.00 – $60.00 is the major area to watch for a high-odds long position. $62.80 is the nearest support to look for a short-term long position.

Today critical level to watch:

Support: $62.80, $62.50, $60.00

Resistance: $65.00