Gold flirting with $1,250

After claiming back $1,250 level since bouncing from $1,200 – $1,220 area, gold slipped back below $1,250. The precious metal is currently moving near the $1,250 handle nearing the end of the week. It looks like the bull and the bear is undecided where it will close and handing over the control to “big hand” who will move the price before today close.

Current sentiment is supporting more appreciation in gold price which means, we might see gold settled above $1,250 by the end of the day.

Today critical level to watch:

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

Resistance: $1,260, $1,270

Silver another attempt at $16.80 – $17.00

Contrary to gold, the price of silver is on the bearish side where it could not take over $16.80 – $17.00 resistance area. The price looks will close below the area and spell uncertainties whether the price will continue moving higher next week.

Today critical level to watch:

Support: $16.00, $15.40

Resistance: $16.80, $17.00, $17.20

Crude oil bull out of the cage!

The bull is rampaging in crude oil after the price surpassed $50 handle the first time since last month. The close above $50 handle is important for crude oil bull, and it will dispell short-term bearish view in crude oil. There is bearish trendline to watch on upside around $52.40 where price will find resistance.

Today critical level to watch:

Support: $50.00, $49.00, $48.50, $48.00

Resistance: $51.00, $52.40