Gold might range between $1,325 – $1,337
The correction of gold prices lead it down and test $1,325 support level. No breakout happened in the previous trading day, but there is momentum in the current correction. It is possible gold could break the support level and followed by a bullish reversal. Long position near $1,325 could be considered by traders.
However, two consecutive bearish close below $1,325 might trigger a further bearish correction in gold.
Today critical levels to watch:
Support: $1,325, $1,320, $1,300
Silver more bearish pressure or bounce?
The rejection from $15.00 resistance brought silver down and close near its bearish channel. The price maintains the level above the channel and might avert further bearish pressure. At the current time, bull traders are trying to bring the price upward. Will silver bounce and retest $15.00 resistance again?
Today Critical levels to watch:
Support: $14.40, $14.00
Resistance: $14.80, $15.00
Crude oil bearish close, further selling?
On Monday trading session, crude oil tested $54.50 resistance and formed a bearish candlestick. It could be a rejection or profit taking action that causes the reaction. No follow-through by the bear yet, without further bearish close then crude oil might stick near $54.50 the entire week.
Today critical level to watch:
Resistance: $54.50, $55.00, $57.60