Gold on the path lower

Gold prices hit by the bear at the weekend, the price also slide from resistance $1,325. As the price descended from the resistance, it is getting near the projected target support $1,280 – $1,300. Traders could look for long position when the retest of support happen. However, always be cautious and do not trade if there is strong bearish momentum candlestick.

Today critical level to watch:

Support:  $1,310, $1,300

Resistance: $1,325, $1,337, $1,340

Silver valid breakout

Strong bearish momentum candlestick breaks below the orange range and has big prospect to break recent low around $16.10. The breakout of the level will help silver to reach $16.00 support. There is no position suggestion yet, and we will see the price movement at $16.00 when silver reaches it.

Today critical level to watch:

Support: $16.00

Resistance: $16.30, $16.50, $16.80

Crude oil sideway

Crude oil prices continued without momentum and traded between the black and red trendline. The price might continue moving sideways with bearish bias as inventory data record higher surplus and U.S dollar index rebound. Traders could look for short position near the black trendline with target $59.00 – $60.00 or the red trendline.

Today critical level to watch:

Support: $60.00, $59.00

Resistance: $62.50, $62.80, $65.00, $65.78