Gold confirmed upside

Gold upward pressure lead the bear to surrender and leave $1,337 behind. The bullish close opened upward scenario toward $1,360 marked by Fibonacci extension level. Traders who are aggressive could buy at the current level if missed $1,325 trade.

Today critical level to watch:

Support: $1,337, $1,325, $1,320, $1,300, $1,280

Resistance: $1,357, $1,360

Silver feigned drop

The drop in the previous day is not genuine and could become a disaster for the bear who short below $17.00. We mentioned the bearish pressure was strong, but it still needs close confirmation. At the end of the day, the bull showed who is in control.

Silver could move upward toward $17.50 this week, but another genuine close above $17.00 is needed as previous day close barely below $17.00.

Today critical level to watch:

Support: $17.00, $16.80, $16.50

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

Crude oil waiting for U.S data

The crude oil price has seen not much change in the latest week, and the price traded between $62.80 – $65.00. The resistance $65.00 has not touched, but the price stick near it before U.S crude oil inventory data. The inventory data expected to post a deficit of 1.0 million barrels in the previous week. The higher deficit will help the crude oil to reach $65.00 and higher.

Today critical level to watch:

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

Resistance: $65.00