Gold bullish continuation

Gold is moving upward and looking to reach $1,300 resistance level. The precious metal turns more bullish after the bounce from blue trendline, and there is nothing to stop the upward movement. If gold could overtake $1,300 resistance, it will confirm a new bullish leg which could surpass this year high.

Meanwhile, traders who are looking for the long position could wait for near $1,280 or after break and re-test of $1,300.

Today critical level to watch:

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

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

Silver claimed $17.00

Silver managed to close above $17.00 in the previous trading session and slowly turn positive. The close above resistance shows the bull still has the intention to push the price higher. However, for the rest of week, the bull needs to protect the price from falling and close below $17.00. On the other hand, a close below $16.80 might trigger selling toward $16.00.

Today critical level to watch:

Support: $16.80, $16.50, $16.00

Resistance: $17.00, $17.50, $17.73

Crude oil short clear out

Crude oil bull aggressively pushes the price higher in Tuesday and erase all losses incurred in previous Friday. The outlook is bullish, and the bull might push crude oil toward $52.40 this week. $51.20 – $51.30 is the nearest resistance which might reverse the price, but it has low odds.

Today critical level to watch:

Support: $51.00, $50.00, $49.00, $48.50

Resistance: $51.20, $51.30, $52.40