Gold further upside

The trend of gold continue bullish following the bounce from a level near $1,300 and close at $1,337 resistance. Today, the price move above the resistance level which signals further upside. However, there is a small possibility the bear will return before the market close and push the price back below $1,337.

If there is no bearish reaction, we could expect gold move toward $1,357 – $1,360 target.

Today critical level to watch:

Support: $1,337, $1,320, $1,300, $1,280

Resistance: $1,357, $1,360

Silver resume uptrend above $17.00

Silver finally closed above $17.00 again on Friday after three consecutive closes below it. The movement above $17.00 with strong bullish candlestick is a confirmation the trend will continue bullish. Traders could ride the movement to at least $17.50 – $17.73 area.

Today critical level to watch:

Support: $16.80, $16.50

Resistance: $17.00, $17.50, $17.73, $18.00, $18.50.

Crude oil bullish extension

The bull has not taken a breather yet following the bullish close on Friday. There is nothing to stop the bull yet and target $65.00 – $65.78 is within a hand’s reach. A short position is not suggested unless the bear could produce massive bearish candlestick with high volume.

Today critical level to watch:

Support: $62.50, $60.00, $57.60

Resistance: $65.00