Gold targeting higher level

Sweet winning for gold bull as the price close higher. The sharp gain of price put gold above $1,250, but there is no sign of continuation yet today. Traders who have long position might want to hold the position longer as the upside is clear and fundamental situation support for more appreciation.

On the upside, $1,280 – $1,300 is the target of appreciation, and a slide below $1,250 will postpone the bullish trend.

Today critical level to watch:

Support: $1,250, $1,244, $1,240, $1,220, $1,200

Resistance: $1,260, $1,270

Silver downside exposure

The bear is in control today, and the silver is exposed to the downside. If the price could close above $16.80, it will open the way for more appreciation. Otherwise, a close below previous day low will trigger more downside.

Today critical level to watch:

Support: $16.00, $15.40

Resistance: $16.80, $17.00, $17.20

Crude oil waiting for catalyst

Crude oil price is moving forward and backward between $48.00 – $49.00. There has been no close outside of both levels since the price closed above $48.00. Some data show an increase of stockpile which drives the price lower, but there is growing fear in the market regarding U.S dollar. Under the current situation, it looks like the crude oil will continue moving sideway until there is news catalyst to move the price.

Today critical level to watch:

Support: $48.50, $48.00, $47.00, $46.70

Resistance: $49.00, $50.00