Gold dropped below $1,220

Gold is under pressure as the price dropped below the red trendline and $1,220 support level. The precious metal could continue further lower if the bull let the price fall below $1,210. Even though the trend could turn bearish, gold expected to trade inside the triangle area or inside $1,200 – $1,220 until next trend settled.

Traders could look for long position between $1,200 – $1,210.

Today critical level to watch:

Support: $1,210, $1,200

Resistance: $1,220, $1,234, $1,240, $1,250

Silver no man zone

Not much movement between $14.00 – $14.40 in silver and the price should continue its sideways movement. Currently, traders could use the moment to trade the range until breakout happens.

Today critical level to watch:

Support:  $14.00

Resistance: $14.40, $15.00, $15.60

Crude oil ranging between $50.00 – $52.40

Crude oil found support near $50.00 and bounce from it. The price made another attempt lower on the third day but the bull immediately pushes it higher to close on the positive side. Currently, the bear holding control of crude oil and make rejection from $52.40 resistance. Without any change in the direction, crude oil expected to test the level near $50.00 again.

Today critical level to watch:

Support: $50.00

Resistance: $52.40, $54.50