Gold not giving up the $1,240 floor yet

Gold bull is mustering strength at $1,240 support level and avoided a price close below it. The bull still holding on and trying to push the price upward today. There is little upward momentum, and the price has not made a significant move. Expect gold will close inside Friday candlestick range and looking for direction.

Today critical level to watch:

Support: $1,240, $1,236

Resistance: $1,250, $1,260, $1,265

Silver trendline touchdown

The long-term trendline of silver touched when the price fell on Friday. Fresh low printed and the precious metal at risk for further downward movement. Today, little momentum was seen in the price movement. Expect another test on the support trendline before next direction settled.

Today critical level to watch:

Support: $15.60

Resistance: $16.00, $16.30, $16.50

Crude oil hoping for a bounce

Crude oil manages to hold out above $70.00 and attempting to bounce from it. It has been two days, and the price continues to stick near the $70.00 support level. There is a sharp bounce on Friday. Unfortunately, the bullish move lost momentum, and the price fell to its opening level. Today, the bull and the bear still hesitant to enter the market.

It is better to stay sideline for now and watch further price reaction at $70.00

Today critical level to watch:

Support: $70.00

Resistance: $72.50, $74.80, $75.00