Gold hesitant bull

Gold hesitate even though it claimed the $1,250 major level. The price started moving sideway and limited below the red trend line. The bull could feel safe as long as the price stay above $1,250. Otherwise, a close below $1,250 might trigger another test lower toward the blue trendline.

Tomorrow ECB and FOMC meeting minutes might move the market and drive gold price either upside or lower after the release of news.

Today critical level to watch:

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

Resistance: $1,260, $1,270

Silver fighting for $17.00

Silver closed above $17.00 on Monday after the second test of the resistance. The price stays higher above $17.00 today, but looks will close the day near $17.00 handle. The market might stay sideline before ECB and FOMC news tomorrow. Traders could take this time to place a long order near $17.00 level with a tight stop as the market favor more upside.

Today critical level to watch:

Support: $17.00, $16.80, $16.00, $15.40

Resistance: $17.20, $17.50

Crude oil more advantage for the bull

There is no stopping for crude oil bull as the price continue moving up to its target at $52.40 without a test of $50.00. Looking at the situation, it looks like the target will be reached in several days. Tomorrow crude oil inventories, ECB, and FOMC meeting minutes will influence the price movement. Traders might want to observe how the price reach near $52.40.

Today critical level to watch:

Support: $51.00, $50.00, $49.00, $48.50, $48.00

Resistance: $52.40