Gold bounce from the level near $1,280

The price of gold continues its weakness in the previous day and hit a level near $1,280. After the level hit, the precious metal bounced and recovered all of its losses to close as bullish candlestick pattern. We have a bullish pin bar pattern and $1,300 as a target if gold could close the daily candle above previous day high.

At the current time, we have early confirmation for a long position. Add more positions when the price closed above the previous day high.

Today critical levels to watch:

Support: $1,280

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

Silver maintained the position above $15.00

The bearish pressure on silver continue yesterday but could not breach $15.00 support. Currently, the price attempting to bounce from the support level and test $15.20. We think $15.20 will become the upward limit and failure to close above $15.20 will trigger more selling below $15.00.

Today Critical levels to watch:

Support: $15.00, $14.40

Resistance: $15.20, $15.60, $16.00

Crude oil no escape from  $55.80 – $57.60

Volatility slowly dies out on crude oil as the price continue consolidation between $55.80 – $57.60. There is no conclusion yet on the next direction. Traders could continue to use the moment to take a long position near $55.80 and short position near $57.60.

Today critical level to watch:

Support: $55.80, $55.00, $54.50

Resistance: $57.60