Gold rejected from $1,300

The price of gold experience rejection from $1,300 after initially closed above it on Friday trading session. The precious metal is currently testing Monday low and waiting for next direction. The break below Monday low will trigger selling toward the blue trendline or $1,280.

As long as gold could maintain a position above $1,280 and the blue trendline, it has a chance to test this year high.

Today critical level to watch:

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

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

Silver take a bearish turn

Silver unexpectedly turned bearish on Monday without a touch of $17.50. The sudden bearish sentiment drops the price back below $17.20 and currently heading to $17.00. If the support between $16.80 – $17.00 could hold the selling pressure, traders could enter a long position and ride silver up to $18.50.

Today critical level to watch:

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

Resistance: $17.20, $17.50, $17.73

Crude oil stopped at $52.40

Crude oil reaches $52.40 as expected but the price reversed as soon as the resistance level touched. The bull is currently maintaining position near the resistance and looking for trigger upside. Traders could look for the short position if the bull failure to hold an advantage and tumble below previous day low.

Today critical level to watch:

Support: $51.20, $51.00, $50.00

Resistance: $52.40, $54.50