Gold unable to close above $1,280
Gold might be in trouble after the price failed to close above $1,280 even though it maintains the level above it for the whole day. Currently, the bear attempting to push the price lower inside the bearish channel. A strong bearish movement at the current level will trigger selling toward $1,260 – $1,265.
Today critical levels to watch:
Support: $1,265, $1,260
Resistance: $1,280, $1,300, $1,320, $1,325
Silver second day close below $14.40
The bullish attempt to bring silver up above $14.40 failed but there is no strong bearish reaction yet. The precious metal making another attempt today and the price stick near the level. Will silver manage to return above $14.40 and resume its upward correction toward the top of the channel? Alternatively, will it continue the bearish movement from $14.40 and print fresh low?
Today Critical levels to watch:
Resistance: $14.40, $14.80, $15.00
Crude oil major bullish reversal
A major bullish reversal candlestick formed on crude oil daily chart. It is a surprise for the bear as crude oil mostly lower for the entire session. The bullish pin bar has initial confirmation today but there is $59.50 – $60.00 resistance area to watch. As long as the price stays below the resistance area then crude oil will continue the bearish movement.
Today critical level to watch:
Support: $57.60, $55.80
Resistance: $60.00, $65.00, $67.20, $70.00