Gold at the cross-road

An important event in gold in the previous week. The price ascends and closed at $1,220 which is the upper level of resistance area. This week will be crucial for the precious metal, if it can close higher than the $1,220 resistance, traders will see a rally in price at least to $1,250.

If the price failed to make higher close, it would continue its ranging movement between $1,200 – $1,220 or worse leaving the area and continue its bearish trend.

Today critical level to watch:

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

Resistance: $1,220, $1,250

Silver bullish pin bar formation

The bullish movement of Silver looks to continue this week after the price close as bullish pin bar pattern at the end of the week. $17.50 is the flip level which plays a major role in the silver next movement. Without any significant resistance, Silver will quickly reach the blue trendline level and $18.50 resistance.

Today critical level to watch:

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

Resistance: $17.50, 18,50

Crude Oil waiting for triangle break

Triangle consolidation in crude oil continues without any break last week. The price expected to continue moving inside the triangle pattern this week and waiting for a break. Upward breakout in the crude oil price is favored with the target at $60. The breakout looks will happen soon in 1-3 weeks.

Today critical level to watch:

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

Resistance: $54.50, $55.00