Gold neutral situation

The price of gold closed below $1,280 yesterday and showing the bear is in control. However, the price currently moves higher today and stay above $1,280. Overall, the situation is neutral, and gold might reverse down to close below $1,280 at the end of the day.

Traders will continue observing the price movement. If it moves down, long position near the bottom of the channel might be a good idea.

Today critical level to watch:

Support: $1,280, $1,258, $1,250

Resistance: $1,300, $1,313.22, $1337

Silver near breakout point

Silver is sideways inside the green triangle and nothing to expect yet. Breakout is expected, and there is no clue which side will silver breakout to? Traders could either place two direction orders at the breakout points or stay sideways and enter only after re-test of breakout happen.

Today critical level to watch:

Support: $17.00, $16.80, $16.50, $16.00

Resistance: $17.20, $17.50, $17.73

Crude oil initial sign of bounce

Crude oil higher on Friday after two sideways sessions. The price attempt to reach previous selling level around $56.30. Depend on the momentum, and the level could become a good sell order place. However, the trend is bullish which not encourage any sell position yet.

Today critical level to watch:

Support: $55.23, $54.50, $52.40

Resistance: $56.00, $60.00, $62.50.