Gold capped at $1,230

We have an early celebration on the gold jump in the previous day. Unfortunately, the precious metal drifted lower before the close of the day and settled just at $1,230. It means no breakout and today the bull has trouble to break the resistance level.

Even though there is no breakout, the situation is largely bullish and we might see another spike above $1,230 before the end of the week. What to do at the current time? Stay long.

Today critical level to watch:

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

Resistance: $1,234, $1,240

Silver moving upward

The price of silver maintains its bullish winning after previous day bounce. The precious metal expected to continue moving upward to test $15.00. However, it is yet to break above previous week high. There is a possibility the price will reverse if it failed to break previous week high though it is a low chance. Traders could continue to maintain the long position.

Today critical level to watch:

Support: $14.40, $14.00

Resistance: $15.00, $15.60

Crude oil no hope for recovery

Crude oil suffered heavy losses in the previous day and closed near the day low. The sudden bearish breakout turns the trend into bearish. Fortunately, no lower low printed on weekly basis, the price needs to move below $64.44 to print a lower low. Meanwhile, crude oil might bounce to $67.09 – $67.91 before resume its downward movement.

Today critical level to watch:

Support: $65.78, $65.00, $64.44

Resistance:  $70.00, $71.39, $74.04