Gold bullish pin bar

Flirting with the support level, gold closed previous week as a bullish pin bar. The pin bar initiated at $1,220 support level, and there is support trendline also. The price expected to continue its movement inside the channel range and reach $1,280 – $1,300 resistance area.

Meanwhile, there is also a possibility the price will continue sideway until Non-farm employment data this Friday.

Today critical level to watch:

Support: $1,220, $1,200, $1,184

Resistance: $1,237, $1,244, $1,250, $1,280 – $1,300

Silver saved by the bell

Abrupt reversal happened on Thursday previous week put silver back below its broken bearish trendline. Fortunately, the price manages to recover some losses and put the price back near the trendline. This week is the moment of truth for silver, will it bounce lower or will it break higher above the trendline once again?

Today critical level to watch:

Support: $17.50, $17.20, $17.00, $16.75

Resistance: $18.00, $18.50, $18.90, $19.00

Crude oil similar situation

Sideway continuation in crude oil price already strained for three straight months since December’16. The price expected to continue its sideway movement inside the triangle range and waiting for a breakout. Traders need to wait patiently, so they are not caught in the wrong direction of the breakout. Base on the pattern, upside breakout, is favored.

Today critical level to watch:

Support: $52.40, $51.93, $50.50, $50.00, $49.60

Resistance: $54.50, $55.00