Gold secures $1,250

Gold is on winning streak, the pair moving upside with full momentum after it broke above the bearish channel. The precious metal acquires $1,250 which is important level and closed at $1,254.74. Another bullish reason for gold is the price closed above the long-term blue trend line. This week, gold will have $1,250 as launch base if it

This week, gold will have $1,250 as launch base if it correct before continuing further upside. Bull traders could use $1,250 or level near the blue trend line to look for a long position. Bear traders could prepare if the price of gold closes below $1,250 again with strong momentum.

Today critical level to watch:

Support: $1,250, $1,244, $1,240

Resistance: $1,258, $1,280, $1,300

Silver cautious bullish

The close above $16.00 and a move higher is good news for silver. The price currently sticks at $16.50 and getting near to $16.80 – $17.00 test area. The bull may stay cautious as the price has not created a “Same high” or higher high situation. Without any higher high printed on the daily chart, silver prone to print new lower low.

Today critical level to watch:

Support: $16.00, $15.61, $15.00

Resistance: $16.50, $16.80, $17.00

Crude oil dead meat before OPEC

The price reversed current bullish momentum at $47.00 and closed lower at $45.57 before OPEC meeting on Monday. The fate of crude oil ready to experience major turn after the decision in the meeting. On the daily chart, the nearest support for crude oil is $45.30 followed by trend line support. If the meeting produces positive decision, crude oil might stop decline at $45.00 and start new bullish leg to challenge $47.00.

Otherwise, if the meeting results in no decision and no measure for an increase of production in previous week report, it should lead crude oil further lower below the support level.

Today critical level to watch:

Support: $45.50, $45.30, $44.75

Resistance: $46.00, $46.45, $47.00, $47.31