Gold paving road higher

Gold trend has switched to bullish since the break above $1,300. The precious metal prices continue to pave road higher and currently stuck at the red trendline. If the bear could reverse the trend, gold might start correction and test the blue channel or $1,300 broken level.

Traders could look for a long position when re-test happen.

Today critical level to watch:

Support: $1,300, $1,280

Resistance: $1,320, $1,337

Silver maintain bullish traction

Similar to the gold situation, the silver prices stay above the broken resistance and looking to add more gains. There is no bearish sign yet, and traders could continue to use $17.00 as a base for next bullish leg. A breakout below $17.00 could cancel the short-term bullish outlook.

Today critical level to watch:

Support: $17.00, $16.80, $16.50

Resistance: $17.50

Crude oil imminent correction

Slight weakness shown by crude oil bull after it reached 2015 high. The bull switch to careful approach as the market could easily turn crude oil lower. If the crude oil starts moving down, $60.00 might become the target with $57.60 as an extension.

Today critical level to watch:

Support: $60.00, $57.60

Resistance: $62.50