Gold bearish continuation

Gold slide lower in the previous trading day below the support trendline and tested the support $1,260 – $1,265. The precious metal might continue testing the support level today as U.S job data loom. A close near the support level indicates possible bearish continuation in the coming week. However, if the price bounces sharply from the support level then traders might want to prepare for long positions.

Today critical levels to watch:

Support: $1,265, $1,260

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

Silver no reason to enter long positions

The bearish pressure in silver manages to push the price to close below $14.80 and print fresh yearly low. The price continues lower yesterday but no close below Wednesday low. We could expect it to continue moving downward to test $14.40 support level. Traders could prepare for long positions when the price reaches $14.40.

Today Critical levels to watch:

Support: $14.40

Resistance: $14.80, $15.00, $15.20

Crude oil bearish correction toward $60.00

Crude oil enters the bearish correction phase and it made major bearish movement yesterday. The price currently traded at $61.61 when the analysis made. We expect crude oil to continue its bearish movement and test $60.00 before the price could turn bullish. Traders could prepare for long positions near the support level.

Today critical level to watch:

Support: $60.00, $57.60, $55.80

Resistance: $65.00, $67.20, $70.00