Gold weakness below $1,280, no continuation

Gold weakens below $1,280 support level in the previous week. The price started the week with little gain and no bearish continuation yet. At the current time, gold hovering inside Monday range and showing little weakness. Will gold continue its bearish movement toward $1,260 – $1,265 support area?

Today critical levels to watch:

Support: $1,265, $1,260

Resistance: $1,280, $1,300, $1,320, $1,325

Silver bounce from the bottom of channel?

Silver price bearish movement stopped in the previous day and we have mini bounce from the bottom of the bearish channel. It is not a strong bounce and no change to the long-term outlook of silver. However, it is also possible for the price to bounce and move toward the top of the channel before further weakness.

Traders could prepare for short positions near the top of the channel and $14.40 support level.

Today Critical levels to watch:

Support: $14.00

Resistance: $14.40, $14.80, $15.00

Crude oil slowly losing upward momentum

The upward movement of crude oil stalled near the top of bearish candlestick formed in the previous Monday. It is not a good sign for the bull and the price might reverse downside. But, at the current time, the bull still maintaining the level near the high and waiting for a breakout. Will a breakout happens and crude oil continue toward $65.00?

Today critical level to watch:

Support: $60.00, $57.60, $55.80

Resistance: $65.00, $67.20, $70.00