Gold correction from $1,300

Gold tested the resistance $1,300 and resulted in a bearish correction. Today, the price attempting to move below the previous day low. If the low broken then gold might continue its correction toward broken channel or the trendline. Traders could prepare near both support levels to look for long positions.

Today critical levels to watch:

Support: $1,280, $1,265, $1,260

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

Silver testing $14.80

We have a bounce from the trendline and another test on $14.80. There is no breakout or strong rejection yet from the level. Silver might continue to stick near the resistance and looking for the next direction. We have added a bearish channel for reference on the chart. Without breakout above $14.80 and the channel, we expect silver to continue its bearish movement.

Today Critical levels to watch:

Support: $14.40

Resistance: $14.80, $15.00, $15.20

Crude oil neutral state

Despite the bearish pattern formed on Monday trading session, crude oil closed bullish without breakout below Monday low. Today, the price has not moved far from the opening level and provided us with a neutral bias. Where will crude oil move next? We think the test of $60.00 support is still on the card.

Today critical level to watch:

Support: $60.00, $57.60, $55.80

Resistance: $65.00, $67.20, $70.00