Gold Strong bullish reaction

Gold descend in the previous day reached $1,300 and bought sharply by the bull. The precious metal closed at $1,316 by the end of the day. There is no bullish follow up yet by the bull today. If the bull could close the price above $1,320 or better $1,325, then it will cancel the overall short-term bearish outlook. Meanwhile, gold might trade between $1,300 – $1,325.

Today critical level to watch:

Support:  $1,300

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

Silver bullish opportunity

Silver prices closed as bullish candlestick in the previous day and open up bullish scenario. Even though the precious metal breakout below its triangle pattern, the bull still has a chance to cancel the breakout. A close above $16.50 is needed to overturn the trend.

Today critical level to watch:

Support: $16.00

Resistance: $16.50, $16.80, $17.00

Crude oil more bearish pressure?

Crude oil drops to a level near $60.00 support level and bounces up after the U.S dollar index weaken. Today, crude oil seems to aim for a downward test of $59.00 – $60.00 support level. Traders could look for long position when the price hit either red trendline or $59.00 – $60.00 area.

Today critical level to watch:

Support: $60.00, $59.00

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