Gold directionless above $1,280

Not much movement was seen on gold yet as the price hovering near $1,280. The price traded between trendline and $1,280 support level. At the current time, traders will continue waiting for the price reaction and wait for either breakout above trendline or the support $1,280.

Today critical levels to watch:

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

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

Silver continue bearish trend inside the bearish channel

At the current time, silver losing upward momentum and traded lower today. No change to the long-term trend which is bearish inside the channel and we will see a test on $14.40 support level soon. Traders might want to avoid a long position and stick with short positions.

Today Critical levels to watch:

Support: $14.40, $14.00

Resistance: $14.80, $15.00

Crude oil bounce from trendline or upward continuation?

Crude oil continues its upward correction and sticks near the trendline. It is also getting near $60.00 resistance. At the current time, there is no major reaction from the resistance level and traders will wait for the next movement. Will crude oil rejected from the resistance? Alternatively, will it breakout and continue higher above $60.00?

Today critical level to watch:

Support: $57.60, $55.80

Resistance: $60.00, $65.00, $67.20, $70.00