Gold bull “safe” close above $1,220

Gold under pressure Yesterday and sold by the bear below $1,220. Fortunately, the breakout did not close below $1,220. Today, there is an attempt by the bear to push the precious metal down again. The bull does not give a chance for the bear, and we might see bounce toward $1,240.

Today critical level to watch:

Support: $1,220, $1,200

Resistance: $1,240, $1,250

Silver turned upside

Silver turned upside today and looks will enter an upward correction period. The precious metal has no floor seen yet, and it is better to stick with a short position at the moment. We might see the last struggle by the bull to bring the price above trendline and $16.00 before the month end. $15.60 is the first level for the bull to overcome.

Today critical level to watch:

Support: $15.00

Resistance: $15.60, $16.00, $16.30

Crude oil neutral level

The bullish engulfing pattern in crude oil followed through by the bull and the price currently traded at $70.00 resistance. Both bullish and bearish scenario is possible, and it will depend on the market reaction near the resistance. Will we see rejection or breakout?

Today critical level to watch:

Support: $65.78, $65.00

Resistance: $70.00, $72.50