Gold bounce from $1,325
Gold closed the day as bullish pin bar yesterday. The pattern pre-confirmed by upward movement above the candlestick high today. It is moving as expected and might range between $1,325 – $1,337. Traders could continue to use the moment to trade the range until breakout happens. However, long positions favored more than short positions.
Today critical levels to watch:
Support: $1,325, $1,320, $1,300
Silver bounce from top of the channel?
The price of silver closed bullish in the previous trading day, bounced from the top of the channel. But, the bounce is not a strong confirmation that the upward trend of silver will continue. Today, the bull follow-through by pushing the price further upside. Will we see bullish continuation above $15.00?
Today Critical levels to watch:
Support: $14.40, $14.00
Resistance: $14.80, $15.00
Crude oil bearish continuation, testing $52.40
Further bearish pressure has seen on crude oil daily chart. The price closed lower and currently testing $52.40 support level. If a breakout happens then crude oil will continue toward $50.00. However, if a bounce happens then crude oil expected to range between $52.40 – $54.50.
Today critical level to watch:
Resistance: $54.50, $55.00, $57.60