Gold not much change

The price of gold closed lower in the previous trading day but hanging at the middle of $1,300 – $1,337 range. There is no change to the outlook of gold which is bullish. Traders might want to wait until the price hit either $1,300 or $1,337 before placing any positions.

We expect gold will continue upward to test $1,337 and higher.

Today critical level to watch:

Support: $1,300, $1,290, $1,280

Resistance: $1,337

Silver lower after rejection from $16.00

Silver drifted lower and test a level near $15.60 before a bounce happen. The price settled near its opening level. Today, there is bullish pressure from the bull which surpasses previous day high. If the bull could maintain the bullish pressure then we will see silver testing $16.00 soon.

Today critical level to watch:

Support: $15.60, $15.20, $15.00, $14.40

Resistance: $16.00

Crude oil waiting for a rally

The price of crude oil crossed above $54.50 and maintain the position above it for the second day. Today, there is not much reaction yet and the price stick near $54.50. Will crude oil continue its upward movement toward $57.60?

Today critical level to watch:

Support: $55.00, $54.50, $52.40

Resistance: $57.60, $60.00