Gold testing $1,300 resistance

Gold finally make a bounce from $1,280 support level and closed the week near $1,300 resistance. The precious metal currently traded near its opening level and showing no reaction from $1,300 resistance yet. If gold could climb above $1,300 then we might see the precious metal traded near $1,325 in coming weeks.

Today critical levels to watch:

Support: $1,280

Resistance: $1,300, $1,320, $1,325

Silver bounced and closed above $15.20

The bearish pressure on silver finally subside and the precious metal turn upside in the last day of the previous week. Silver bounced from support $15.00 and closed above $15.20. If the bullish pressure continues then silver expected to move higher and reach $15.60 resistance.

Today Critical levels to watch:

Support: $15.20, $15.00, $14.40

Resistance: $15.60, $16.00

Crude oil fake breakout below $55.80

No breakout yet from $55.80 – $57.60 range in crude oil. The price stays inside the range and expected to continue its ranging movement. Traders could continue to use the range to apply ranging strategies with a bullish bias. Currently, we expect the price will move higher and test $57.60 resistance.

Today critical level to watch:

Support: $55.80, $55.00, $54.50

Resistance: $57.60