Gold bull delay correction

Gold prices closed above $1,337 in Tuesday trading session and delay the correction. However, it seems the market still looking for direction following the long tick produced at up and downside. Traders will wait for today price close to gauge sentiment.

Today critical level to watch:

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

Resistance: $1,337, $1,357, $1,360

Silver trend is up but fragile

Yesterday, the market shocked by sharp selling done by the bear. It managed to breach $17.00 support, and looks will continue. Fortunately, the selling stopped near $16.80, and the bull closed the price above $17.00. The trend continues bullish, but silver might experience roller coaster on the path upside.

Today critical level to watch:

Support: $17.00, $16.80, $16.50

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

Crude oil is searching for support.

Crude oil made a bearish close as it could not reach $65.00 handle. The bear seems in control while the bull is searching for support to bounce. $62.80 is the first level to watch for a bounce. If crude oil continues to move lower, $59.00 – $60.00 is an interesting area to place long position.

Today critical level to watch:

Support: $62.80, $62.50, $60.00, $57.60

Resistance: $65.00