Gold tilted

The gold prices crossed below daily SMA 200 and $1,280 support level in the previous week. The precious metal is in a defensive position and showing no indication of stopping yet. However, interestingly, there is no lower low printed on the chart. The price stays above previous swing low $1,260 where the bear needs to print lower low for gold to continue lower.

The battle has not finished yet between the bear and the bull, and it is possible the bull could overturn current trend by moving above $1,300. Nearest resistance is $1,280 and will become the litmus paper.

Today critical level to watch:

Support: $1,258, $1,250

Resistance: $1,280, $1,300, $1,313.22, $1337, $1,390

Silver holding on

Silver outlook shift to neutral after the precious metal closed inside its triangle pattern. The bull kept holding on from the bear attack and convinced it must not lose the triangle and $16.50 support level. There is no conclusion yet on where silver will move. Next, traders could continue observation on price movement inside the triangle.

Today critical level to watch:

Support: $16.50, $16.00

Resistance: $16.80, $17.00, $17.20, $17.50, $17.73

Crude oil climb above $52.40

Crude oil closed above $52.40 and trigger further buying toward $54.50. It is testing 2016 high and current 2017 highs printed between January-February. Will crude oil break above $55.23 and put an end to the bearish trend?

This week crude oil might move sideways below $55.23 resistance waiting for a trigger to break upside. Overall, the trend is bullish as Saudi vow to prolong the production cap until the end of next year.

Today critical level to watch:

Support: $52.40, $51.20, $51.00, $50.00

Resistance: $54.50, $55.23