Gold initial bullish bounce

Gold closed as bullish candlestick in the previous day, not far from Monday closing price. It could be the initial sign that the precious metal will start a new bullish rally toward $1,300 resistance. However, there is no follow through yet today. Traders could look for a long position at the current level with a stop below Monday low.

Today critical level to watch:

Support: $1,280

Resistance: $1,290, $1,300

Silver gaining upward momentum

A bounce happens from $15.20 and lead-silver upside in the previous day. The bullish close followed through by the bull today and silver launch upside. If the bull could pour more strength to the upward movement then we will see Silver traded near $15.60 in no time.

Today critical level to watch:

Support:  $15.20, $15.00, $14.40

Resistance: $15.60, $16.00

Crude oil supported at $52.40

The correction of crude oil prices caused the price to fall below $52.40. But the situation did not take a long time and the bull closes the price above $52.40. Today, there is a bullish attempt by the bull. However, there is not much movement yet since the opening of the trading day.

We expect crude oil will test $54.50 resistance soon and might break above it.

Today critical level to watch:

Support: $52.40, $50.00, $49.00

Resistance: $54.50, $55.00