Gold persistence test on SMA 200

Gold survive the test of support level in the previous day, but it looks like the bear attack continues to persist. Today, the precious metal is under pressure and currently testing the daily SMA 200, trendline support, and the $1,300 handle. If the support level is broken, then we might see freefall in gold prices and traders might want to avoid long position.

Today critical level to watch:

Support: $1,300

Resistance: $1,320, $1,325, $1,337, $1,340

Silver no go to the upside

The silver bull could not add more advantage as the price continue limited below $16.50. In fact, the price started falling today and ready to test previous day low. The close below previous day low will trigger more selling and could bring the price down to $16.00 support.

Today critical level to watch:

Support: $16.00

Resistance: $16.50, $16.80, $17.00, $17.50

Crude oil secured support and launched

Crude oil corrected 3-4% in the previous day and found support near the trendline and bottom of the green box before launching to close at the opening level. The movement mostly influenced by U.S withdrawal from Iran nuclear deal which will impose a sanction on the country.

The only direction of crude oil is upward following the possible sanction will reduce supply. Traders might want to avoid short position at the current time.

Today critical level to watch:

Support: $65.78, $65.00, $62.80

Resistance: $70.00, $75.00