Gold looking to bounce from $1,337

The bearish reversal pattern followed-through by the bear and gold fell below $1,337. But, at the end of the day, gold manages to return above $1,337 and close above it. The precious metal expected to bounce from $1,337 and start a new bullish leg toward $1,380.

Today critical levels to watch:

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

Resistance: $1,380, $1,390

Silver stick near $14.80

Silver settled near $14.80, providing us with no clue for the next direction. The price might bounce from the support level and bring it higher to test $15.00. However, it also possible for the price to fall below $14.80 and start the new bearish leg. At the moment, traders will continue to observe the price reaction at $14.80.

Today Critical levels to watch:

Support: $14.80, $14.40, $14.00

Resistance: $15.00

Crude oil stick near $52.40

The bear pushes the price lower in the previous trading day but could not close below Friday low. It is a neutral situation and traders need more information for the next direction. We still expect the price to continue lower and test $50.00 for now.

Today critical level to watch:

Support: $50.00

Resistance: $52.40, $54.50, $55.00