Gold pushed to $1,280 support

Gold end previous week with a bearish tone as the price closed near $1,280 support level. Although it looks bearish, we think the precious metal will find support and bounce from it to continue the ranging movement between $1,280 – $1,300. Traders could use the moment to take a long position from the support level with a tight stop.

A bullish close above $1,280 in today trading session is a good sign the bull will enter the market tomorrow.

Today critical level to watch:

Support: $1,280

Resistance: $1,290, $1,300

Silver further pullback

Further bearish pullback experienced by silver. The precious metal continues its downward movement toward $15.00. However, the bull seems to eye for entries and we might see the price close near its opening level. Nevertheless, $15.00 is the best and safest option to take long positions for bull traders.

Today critical level to watch:

Support:  $15.00, $14.40

Resistance: $15.60, $16.00

Crude oil almost reach target $54.50

There is no stopping for the bull yet as crude oil prices traded less than $1 below $54.50. When the price hit the resistance level, it will be a decisive moment for crude oil. Will the price continue its bullish trend and breach $54.50? Alternatively, will it start descending and break below $52.40?

Today critical level to watch:

Support: $52.40, $50.00, $49.00

Resistance: $54.50, $55.00