Gold no direction yet

Gold continue moving directionless at the middle of $1,280 – $1,300 range. There is no clue yet for the next direction. However, we think the pair set up for a further bullish breakout above $1,300. Traders could use the level near $1,280 for long positions.

Today critical level to watch:

Support: $1,290, $1,280

Resistance: $1,300

Silver not moving far from $15.60

The price of silver turned lower but not far from $15.60 resistance. At the current time, the precious metal is moving sideways. It is better to stay sideline for now.

Today critical level to watch:

Support:  $15.00, $14.40

Resistance: $15.60, $16.00

Crude oil turn up

The bearish pressure in crude oil has receded and the price turning up today. We expect crude oil to test $52.40 again this week and possibly breakout higher. The upward target is $54.50, a breakout above the level will trigger long-term bullish trend in crude oil.

Today critical level to watch:

Support: $50.00, $49.00

Resistance: $52.40, $54.50, $55.00