Gold whipsawing at $1,280

Although the price made a break and close below $1,280 in the previous day, gold manages to return above the levels and currently testing previous day high. It seems the price might continue to stick near $1,280 and whipsawing up and down until next trend established.

Today critical levels to watch:

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

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

Silver closed below $14.40 and fresh low

The price of silver pushed lower in the previous trading day and printed a lower low below the previous week low. No hope for the bull yet but it is a normal situation where the price continues bearish inside the channel. As long as the price stays inside the channel then traders better stick with short positions.

Today Critical levels to watch:

Support: $14.40, $14.00

Resistance: $14.80, $15.00

Crude oil bearish continuation?

The upward movement of crude oil has reached the trendline and $59.50 resistance. We have a bearish close and it seems a rejection is under progress. If the price could close significantly lower today then we could expect crude oil to continue lower toward $57.60 and $54.50 – $55.00 area.

Today critical level to watch:

Support: $57.60, $55.80

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