Gold touchdown at $1,250

Gold bearish move reached a level near $1,250 in the previous day and closed near daily low. The level is expected level for a bounce, but the bull needs to work hard for a bounce as the bearish momentum is strong. Gold next direction will depend on today close and Friday reaction. A close below $1,250 will trigger more selling while a close above $1,260 will upset current bearish trend.

Today critical level to watch:

Support: $1,250

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

Silver touchdown at $16.00

Similar to gold, the silver price made a touchdown at its support level. The level is long-term support, and bounce reaction could happen. Today, silver attempt to recover its losses. Will we see a bounce today or a breakout and bearish continuation below $16.00?

Today critical level to watch:

Support: $16.00

Resistance: $16.50, $16.80, $17.00

Crude oil no change of direction

Crude oil is in a perfect bullish get up as the price reclaim previous month high. Without any change in direction, crude oil might close above previous month high and continue its bullish trend. Traders must avoid shorting at the current time as the bullish momentum extremely strong and could reach $75.00 easily.

Today critical level to watch:

Support: $70.00

Resistance: $72.50, $75.00