Gold stuck at resistance

The bull only need one breakout above $1,230 – $1,240 area but it seems the area needs more time to chunk. No strong bearish reaction from the area and the price stick near it. We expect further upside either with false sell-off or sudden upthrust by the bull.

If gold fall from $1,230 – $1,240 area then traders could look for long position near $1,220 or the red trendline.

Today critical level to watch:

Support: $1,220, $1,210, $1,200

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

Silver poked the top of the triangle

Silver tested the top of the triangle in Friday trading session and closed at its opening level. The price still trades comfortably inside the triangle range and traders could expect no breakout soon. Overall trend slowly turns bullish and it is possible silver will jump from inside the triangle to a level above $15.00 in one move.

Today critical level to watch:

Support: $14.40, $14.00

Resistance: $15.00, $15.60

Crude oil continues under pressure

The price of crude oil supposedly will be supported by news that the U.S impose a sanction on Iran. However, Iran reacted against the news by saying it will continue selling oil regardless U.S stance. Traders currently crunching the news and we might see some reaction from crude oil soon. Without any change in the trend, the price will continue moving inside its bearish channel.

Today critical level to watch:

Support: $63.00, $61.79, $60.00

Resistance: $65.00, $65.78, $66.00