Gold bounce from a level near $1,300

The downward movement of gold continue today and tested the level near $1,300 support. A bullish reaction happened and gold traded higher above its opening level. If the bull could close the precious metal on the positive side then gold might start a new bullish leg next week.

Long position at the current level is not ideal, traders might want to place a long position only near $1,300. Short positions are not suggested unless gold breach $1,280.

Today critical level to watch:

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

Resistance: $1,337

Silver possible failed bounce from $15.60

A bounce happened in silver near $15.60 support. However, the upward movement losing momentum and pushed down near its opening level. Silver still waiting for next direction, will it resume the bearish trend and break $15.60 support? Alternatively, will it bounce from $15.60 sharply and continue the bullish trend since November 2018?

Today critical level to watch:

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

Resistance: $16.00

Crude oil ranging inside $52.40 – $54.50

The price of crude oil is under pressure and fall toward $52.40. The bearish movement gaining momentum currently and looking for a close below $52.40. A major close below $52.40 could change the short-term map for crude oil. Traders will observe where the price closed at the end of the trading day. A close above $52.40 means a continuation of the sideways trend.

Today critical level to watch:

Support: $52.40

Resistance: $54.50, $55.00, $57.60