Gold on the path higher

There is no reason to be bearish in gold for now. The price of gold attempt to move higher toward $1,250 after moving higher than previous day high. If the buying accelerate, it might reach $1,250 in no time as the issue also brewing in Euro region.

IMF consider to back out from austerity program which will put the country economy under threat. Germany currently tries to convince IMF help still needed for Greece.

Today critical level to watch:

Support: $1,220, $1,200, $1,184, $1,180, $1,166

Resistance: $1,250, $1,280 – $1,300

Silver pause before further upside

Silver price is hovering above $17.50 and looking for a chance to seize the trendline resistance. Meanwhile, the trader can wait for a re-test of $17.50 and take a long position from it.

Today critical level to watch:

Support: $17.50, $17.20, $17.00, $16.75, $16.50

Resistance: $18.00, $18.50

Contingency plan needed in Crude Oil

The break outside of triangle range discourages bullish outlook in crude oil. Though the breakout does not cancel overall bullish trend, the price needs to move up quickly inside the triangle again. Otherwise, the bear trader will bring the price lower than $50 and cancel the bullish outlook.

Today critical level to watch:

Support: $50.50, $50.00, $49.60

Resistance: $51.93, $52.40, $54.50, $55.00