Gold almost reach the target

Gold weakness extends in the previous and today trading session. The precious metal almost hit the downward target of $1,280. After the target hit, there might be a bounce toward $1,300 and search for the next direction. Traders could use the moment to look for a long position when the price hit $1,280. Alternatively, short positions near $1,300 could be considered too.

Today critical levels to watch:

Support: $1,280

Resistance: $1,300, $1,320, $1,325

Silver under pressure but stay above $15.00

Bearish pressure also experienced by silver as the price tumbled from the bottom of the channel and close below $15.20. The price currently resuming its bearish pressure but maintain the level above $15.00 support. If the price could stay above $15.00 by the end of the week then it is possible for silver to start moving up.

Today Critical levels to watch:

Support: $15.00, $14.40

Resistance: $15.20, $15.60, $16.00

Crude oil trading inside $55.80 – $57.60

Crude oil maintains the level above $55.80 and shows no breakout of $55.80 – $57.60 range. Traders could continue to use the range to take long and short positions until breakout happen. The instrument has a bullish bias which suggests traders weight on bullish positions more than short positions.

Today critical level to watch:

Support: $55.80, $55.00, $54.50

Resistance: $57.60