Gold third day down?

The downward movement of gold continue into the third day and move below $1,220 support level. It also slides below the red trendline. But, no conclusion yet on the final direction as the day has not closed. If the bull could turn the price up and close above $1,220 then we get a bounce confirmation.

In the medium-long term outlook, we still favor gold to continue its recent bullish trend and reach $1,250.

Today critical level to watch:

Support: $1,210, $1,200

Resistance: $1,220, $1,234, $1,240, $1,250

Silver triangle breakout?

A breakout of the triangle on Silver daily chart happen today. It is an initial sign the precious metal will turn bearish. However, the day has not closed and the bull might enter the market and push the price back inside the triangle. A close inside the triangle will cancel the breakout and might trigger buying.

Today critical level to watch:

Support: $14.00

Resistance: $14.40, $15.00, $15.60

Crude oil pulled by strong gravity

Crude oil printed a fresh low in the previous trading day and continue under strong bearish pressure. All attempt to bring the price up resulted in selling. Currently, the support $65.78 still intact and the bear might make another attempt to test it this week. Under current bearish pressure, it is better to stay short.

Today critical level to watch:

Support: $66.00, $65.78, $65.00, $64.44

Resistance:  $67.00, $67.91, $70.00, $71.39, $74.04