Gold testing resistances

Gold price projection is moving inside the blue channel or $1,300 – $1,325 area now. The precious metal bounce from the bottom of the channel or $1,300 currently reached the top of the channel or $1,325. There is no rejection yet, but the bull also sticks at the top.

There is an interest-rate decision from ECB and U.S job data this week. We might need to wait for all of the data releases before we could determine gold next direction.

Today critical level to watch:

Support:  $1,300

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

Silver waiting for trigger

Silver prices currently sit at the resistance $16.50 and the downtrend line. It is the best place to look for a short position with a stop above $16.50. The price might continue stall at the resistance until it gets trigger news. However, if the bull could close the price above $16.50, it is better for traders to stay sideline.

Today critical level to watch:

Support: $16.00

Resistance: $16.50, $16.80, $17.00

Crude oil moves inside the triangle?

The price of crude oil bounced from a level near $60.00 for the second time in the previous week. When the low and high connected, we could find a new possible triangle formation. The next scenario to watch is the test of $62.80. Meanwhile, traders could trade the triangle range until next direction settled.

Today critical level to watch:

Support: $60.00, $59.00

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