Gold aiming for $1,325
Gold finished the week higher and started this week with a further gain. The precious metal is getting near $1,325 resistance and might reach it soon. At the current time, traders could continue to hold long positions until $1,325 reached or if there is a strong bearish reaction. Long position from current level is not suggested. On the other hand, short positions near $1,325 might be the best options traders could take.
Today critical levels to watch:
Support: $1,300, $1,280
Resistance: $1,320, $1,325
Silver hovering at the middle of $15.20 – $15.60
The price of silver rejected from $15.60 resistance in the previous week and settle at the middle of $15.20 – $15.60. We thin the uptrend has not finished yet and there is an opportunity for silver to add gain. If a breakout above $15.60 happens then silver should continue upward to test $16.00.
Today Critical levels to watch:
Support: $15.20, $15.00, $14.40
Resistance: $15.60, $16.00
Crude oil bearish correction
Crude oil finally started a bearish correction from $60.00 resistance and the level near top trendline. The price expected to continue its bearish movement and test $57.60 or the bottom trendline before bounce happen. However, sharp reversal upside from current level will trigger a breakout above $60.00 and bring crude oil up to test top trendline.
Today critical level to watch:
Support: $57.60, $55.80
Resistance: $60.00, $65.00