Gold consolidation at $1,300

No clear direction on gold yet as the pair close near $1,300. Earlier, the precious metal drops below $1,300 support and expected to start a bearish correction. However, at the end of Friday trading session, the price climbs back above $1,300 and close above it.

This week, we expect gold to continue consolidation at $1,300 with a bullish bias.

Today critical levels to watch:

Support: $1,300, $1,280

Resistance: $1,320, $1,325

Silver maintain the position above $15.20

A sudden drop in silver prices last week incite doubt that the bullish rally will stop. But, the bull manages to bring the price back above $15.20 by the end of the week. Currently, the price moving above the previous week closing level. Long position near $15.20 might become successful trade.

Today Critical levels to watch:

Support: $15.20, $15.00, $14.40

Resistance: $15.60, $16.00

Crude oil consolidate between $57.60 – $60.00

In the previous week, crude oil closed above $57.60 and confirm the bullish continuation toward $60.00. Since the breakout above $57.60, no strong bullish momentum yet and the price closed at the middle of the range. Traders could adopt ranging strategy between $57.60 – $60.00 until breakout happen.

Today critical level to watch:

Support: $57.60, $55.80, $55.00, $54.50

Resistance: $60.00