Gold little setback before further upside

More upside seen in gold, but it might not for today trading session. The price of the gold slide in early trading session, but recovered back above previous day low. Today trading session might end with gold close between $1,229 – $1233. If the price manages to close inside the range, it is possible for gold to continue higher toward $1,250.

Today critical level to watch:

Support: $1,229, $1,220, $1,200, $1,184, $1,180

Resistance: $1,233, $1,237, $1,244, $1,250, $1,263

Silver building momentum below $17.50

No break yet above $17.50 resistance level. The price of silver continues hovering between $17.20 – $17.45 and building upward momentum. Traders might see a break above $17.50 soon after accumulation period finished. Meanwhile, for every drop to $17.00 – $17.20 could be bought.

Today critical level to watch:

Support: $17.20, $17.00, $16.80, $16.00

Resistance: $17.50, $18.00, $18.50

Crude oil

On weekly outlook, crude oil attempted bounce from its weekly trendline and barely move higher. The price might continue lower if it sticks near the support level longer. Today, the price remain under pressure after it is sold. Fortunately, the bull came near $48.00 – $8.50 support level and brought the price up.

The bull trader needs a close above $48.73 to reverse the short-term trend up.

Today critical level to watch:

Support: $48.00, $47.00, $46.70

Resistance: $48.50, $49.60, $50.00