Gold resume bullish trend

Gold breakout above $1,337 with strong momentum today and halfway from reaching $1,380 – $1,390 resistance area. The precious metal expected to continue its upward movement in coming week and traders might want to avoid short positions for now.

Today critical levels to watch:

Support: $1,337, $1,325, $1,320, $1,300

Resistance: $1,380, $1,390

Silver testing $15.00 resistance

The price of silver continues upward and testing $15.00 resistance. No breakout above the resistance yet and there is no rejection too. Silver needs to cross above $15.20 to confirm the continuation of the long-term bullish trend. On the other hand, a rejection, followed by a touchdown on $14.40 might switch the trend to bearish.

Today Critical levels to watch:

Support: $14.80, $14.40, $14.00

Resistance: $15.00

Crude oil stick near $52.40

After the close below $52.40, crude oil manages to stage recovery and closed the price near $52.40. Not much movement near the resistance level yet today. Crude oil next trend will be determined by where the weekly closing level. A close above $52.40 will help the price to form a double bottom pattern and challenge $54.50.

Today critical level to watch:

Support: $50.00

Resistance: $52.40, $54.50, $55.00