Gold bounce after tested $1,325

The short-term trend of gold turned bearish, and today the bear manages to push the price down to $1,325. The level is a good level to look for the long position if it holds against the bearish pressure. Currently, the bull trying to push the price up above previous day opening level.

If the bull could close the price above previous day low, there is chance gold will bounce and head above $1,337 again.

Today critical level to watch:

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

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

Silver bullish effort nulified

The bull closed the price above $16.50 and built momentum early today, but the bullish effort showered by the bear with selling near $17.00. Silver is under pressure, and looks will close between $16.50 – $16.80. There is no reason to place long position yet. Traders will continue watch ranging movement between $16.50 – $16.80 until close outside the range happen.

Today critical level to watch:

Support: $16.50

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

Crude oil looking for direction

The selling of crude oil stopped today before the price hit $62.80. Nothing is interesting as the market seems searching for direction. Without any momentum movement, crude oil expected to move between $62.80 – $65.00.

Today critical level to watch:

Support: $62.80, $62.50, $60.00

Resistance: $65.00