Gold $1,250 in sight

Nothing to hold gold from reaching $1,250 major level as the precious metal print fresh low each day. The situation supported by strength in U.S dollar index. If gold breakout below $1,250 then the precious might be targeting weekly SMA 200 which lies around $1,230.

Traders could use the green area on the chart as a level to look for a short position. On the other side, $1,250 is appealing level to place long position.

Today critical level to watch:

Support: $1,250

Resistance: $1,260, $1,265, $1,280

Silver on the path toward $16.00

Silver is trying to muster strength after the rejection from the level near broken trendline and $16.50. However, the precious metal could not lift the price as the bear continue pressing it lower. $16.00 is the target for bearish movement and will be reached soon.

Today critical level to watch:

Support: $16.00

Resistance: $16.50, $16.80, $17.00

Crude oil more upside

It is better to avoid a short position in crude oil for the moment as the upward movement is driven from fundamental and confirmed by the technical bounce from $65.00 – $66.00 area. Crude oil has more room upside and could easily top $75.00 in the medium-long term.

Today critical level to watch:

Support: $70.00

Resistance: $72.50