Gold return to bullish scenario

There is no major correction happen in Gold prices as expected. The precious metal never reaches $1,300 broken resistance level. Instead, it uses $1,310 as the base to launch higher. Currently, the bullish momentum is strong and could break $1,325 recent high. The breakout above the level will open scenario to test $1,337.

Today critical level to watch:

Support: $1,300, $1,280

Resistance: $1,320, $1,337

Silver no room for the bear

Silver closed below $17.00 in the previous trading session and indicate the deeper correction. However, today price movement dispells the possibility of correction and could trigger massive buying. The upward target for the bullish movement is $17.50 – $18.50.

Today critical level to watch:

Support: $17.00, $16.80, $16.50

Resistance: $17.50, $17.73, $18.00, $18.50.

Crude oil skyrocketing

It seems crude oil will trade sideways after claiming level near 2015 high. However, the bull did not provide the bear time to breath and push the price higher on the previous day. Using metaphor, crude oil currently traded at outer level of atmosphere.

Will the gravity pull crude oil prices lower, or will the bull manage to break out of gravity area?

Today critical level to watch:

Support: $62.50, $60.00, $57.60

Resistance: $65.00