Gold fresh low

Gold bull losses another battle in the previous day and giving more ground for the bear. The price getting near to December’17 low at $1,236.09 and could move further lower below it. We expect the precious metal to continue its downward movement at least until it reaches red trendline or $1,220.

Today critical level to watch:

Support: $1,236

Resistance: $1,250, $1,260

Silver on the path to trendline

Silver resume its bearish leg after $16.00 test. The bearish leg will reach blue trendline soon. Below the trendline, there is support $15.60 where the precious metal expected to find a temporary floor. We might see some stalled movement this month, but as long as the bear could close the price below $16.00, it could secure a strong bearish leg.

Today critical level to watch:

Support: $15.60

Resistance: $16.00, $16.30, $16.50

Crude oil time for reversal?

Crude oil averted selling in the previous day when the price touch first extension level at $72.49. Bounce from the first extension level brought crude oil above its opening level and close at $74.05. Without any change in sentiment, crude oil will continue its movement between two extension levels with a bullish bias.

Today critical level to watch:

Support: $72.50, $70.00

Resistance: $74.80, $75.00