Gold bull tenacious effort

Gold bull made tenacious effort to hold the price from sliding further. The price closed near $1,280 and prolonged the consolidation period in gold. The bull kept trying to bring the price higher today but limited below the blue trendline. The key for upward movement is the break above this trendline. Meanwhile, if the bear could push the price back below $1,280 it might reverse the trend.

Today critical level to watch:

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

Resistance: $1,300, $1,313.22, $1337, $1,390

Silver back to zero

Silver whipsaw continues near $16.80 – $17.00 area. The price closed at $17.00 on Wednesday indicate the whipsaw continuation. Today, the bull controlled Asian and European session with a slight upward movement. Silver could go either way, and traders might want to wait and see for now.

Today critical level to watch:

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

Resistance: $17.20, $17.50, $17.73

Crude oil further downside?

Crude oil closed lower on Wednesday, but the close is not a bearish confirmation as it closed near Tuesday low. Thursday trading session has been boring and without opportunity, as the price only moves inside 28 cents range. There is no signal yet, and traders could sit tight watch the market reaction before placing any position.

Today critical level to watch:

Support: $56.00, $55.23, $54.50, $52.40

Resistance: $60.00, $62.50.