Gold mustering strength at $1,280

The test on support $1,280 ended in a close near the level. It means no breakout and today we see gold bull seize control and attempt to bring the precious metal up. If the bull could close the week near weekly high then we expect gold will continue its upward movement next week. On the other hand, a sudden reversal from the current level and a close below $1,280 will open more selling next week.

Today critical level to watch:

Support: $1,280

Resistance: $1,290, $1,300

Silver time to rally?

No close below $15.20 and no upside breakout yet in Silver. However, the bull might be able to maintain the price above $15.20 and start new rally next week. At the current time, traders could continue looking for a long position near $15.20 with $15.60 as an initial target.

Today critical level to watch:

Support:  $15.20, $15.00, $14.40

Resistance: $15.60, $16.00

Crude oil continues consolidation below $54.50

Crude oil supported at $52.40 in the previous day and the bull follow through by pressing the price upward. However, the upward movement losing momentum near $54.50 and crude oil currently traded back to its opening level. We might see the price continue its consolidation between $52.40 – $54.50 until breakout happen.

Today critical level to watch:

Support: $52.40, $50.00, $49.00

Resistance: $54.50, $55.00