Gold tested $1,250 and moved lower

Gold reached its resistance which is the first target of upward movement at $1,250. The precious metal might consolidate a little bit before progressing up. It might find support at $1,235 and target $1,280 on next upward movement.

Today critical level to watch:

Support: $1,244, $1,237, $1,233, $1,229, $1,220

Resistance: $1,250, $1,263, $1,280, $1,300

Silver climb slowly above $17.50

Despite the move higher above $17.50, silver bull hesitant to bring the price up aggressively. The price stays lower below its trendline and might risk bounce lower when it touch the trendline. Traders might want to wait until clear break above trendline resistance before placing long position.

Today critical level to watch:

Support: $17.50, $17.20, $17.00, $16.80, $16.00

Resistance: $18.00, $18.50

Crude oil no bounce

An imminent break lower in crude oil price is expected. The price continues sideline near support, and the high got lower day by day. If the price could not move higher than $48.50, we might see it move lower toward $44.73 – $45.30 area.

Today critical level to watch:

Support: $47.00, $46.70

Resistance: $48.00, $48.50, $49.60, $50.00