Gold losses deepen

Gold tumbled below $1,220 and breaking all future bullish expectation. In the short-term and medium-term, it seems the precious metal direction will continue bearish. Currently, it is testing the trendline and a level near $1,200. Will we see breakout below the support level this week and further bearish continuation in gold?

Today critical level to watch:

Support: $1,200

Resistance: $1,210, $1,220, $1,234

Silver awaiting bounce

A breakout happened in the previous week and silver triggered sell-off toward $14.00 support level. The bull is in trouble and might give up the floor $14.00 this week. Bearish pressure currently mounting and testing the support level. A close below $14.00 will trigger further sell-off and fresh low in silver.

Today critical level to watch:

Support: $14.00

Resistance: $14.40, $15.00, $15.60

Crude oil progress inside bearish channel

The price descends consistently inside the bearish channel and made tenth consecutive lower close. Today, the bull returns to the market and open the day near Friday opening level. Although it seems bullish, the bull could not hold the price from moving down. It is currently testing $60.00 support level. Without any bullish reaction from $60.00 support, traders could expect crude oil will continue its bearish trend inside the channel.

Today critical level to watch:

Support:  $60.00

Resistance: $61.79,$63.00, $65.00