Gold closed below $1,325

Gold prices fell below $1,325 handle since the previous month. The bearish close below the handle might lead gold to a deeper correction. If the bull could close the price back above $1,325 today, then it will cancel the bearish outlook, and gold could bounce up to test $1,360 resistance again.

Today critical level to watch:

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

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

Silver under huge threat

Silver bull is in big trouble as the precious metal fell below $16.50 support level today. The close below the level will confirm further downside toward $16.00. Traders might want to avoid long position at the current time and watch if silver could return above $16.50 again.

Today critical level to watch:

Support: $16.00

Resistance: $16.50, $16.80, $17.00

Crude oil No change in outlook

There is no change in crude oil prices outlook; the black gold is moving between $62.80 – $65.00. Today, the market will observe U.S crude oil inventory data. The forecast expects 3.2 million barrels increase. The higher number could lead crude oil fall below $62.80 handle. On the other hand, the lower number will lead crude oil up to $65.00. Traders could continue trade the range.

Today critical level to watch:

Support: $62.80, $62.50, $60.00

Resistance: $65.00