Gold more bullish action

There is no rest for the bull as gold continue notch gain on the daily chart. It is expected to move up further toward $1,300 resistance. Meanwhile, traders could watch $1,280 as a reference level to take long positions. It is better to stick to the long positions and not taking any short position until strong reversal happen.

Today critical level to watch:

Support: $1,280

Resistance: $1,290, $1,300

Silver testing the resistance $15.60

The price of silver progressed upside and reached the level near $15.60. It is currently making consolidation and waiting for momentum to break the resistance. Traders might want to hold the long position and enter short position only when there is strong bearish evidence. We expect silver to continue upside toward $16.00 before major correction happen.

Today critical level to watch:

Support:  $15.00, $14.40

Resistance: $15.60, $16.00

Crude oil stays in bearish track

No clue yet on crude oil next direction as the price hovering between $42.00 – $50.00. Not much momentum movement happen and no breakout above the bullish candlestick which made near $42.00 yet. We expect crude oil to continue moving sideways inside $42.00 – $50.00 with a bearish outlook.

Today critical level to watch:

Support: $42.00

Resistance: $49.00, $50.00