Gold drifted lower to support $1,300

Gold drifted lower after it tests the level near $1,325. The bearish reaction trigger correction and the price almost reach support $1,300. We think the uptrend of gold will continue after the test. However, if the bearish pressure gains momentum and breaks below $1,280 then trader might want to stay sideline and wait until gold reaches the red trendline.

Today critical levels to watch:

Support: $1,300, $1,280

Resistance: $1,320, $1,325

Silver drop below $15.20

The downward pressure on silver continues for the third day and the price fall below $15.20. No bullish reaction yet from the support level. If the price closes below $15.20 then we could expect silver to extend the downward movement toward $15.00. On the other hand, a bullish close above $15.20 might trigger a bounce and continuation toward $15.60.

Today Critical levels to watch:

Support: $15.20, $15.00, $14.40

Resistance: $15.60, $16.00

Crude oil rejected from $60.00

Crude oil attempted to break out above $60.00 resistance. However, the bear proved the resistance level was hard to break. Currently, crude oil prices fall with mild bearish momentum. We might see the price traded near $57.60 before the end of the week. Traders could look for long positions when the price tested $57.60 and produce a bullish candlestick pattern.

Today critical level to watch:

Support: $57.60, $55.80

Resistance: $60.00, $65.00