Gold drifted lower below $1,200

Gold sloping down slowly below $1,200 but it is not the sign of bearish continuation yet. The price needs to close below previous week low $1,189.20 to confirm the continuation of the bearish trend. Meanwhile, gold might continue hovering near $1,200 and waiting for movement trigger.

Today critical level to watch:

Support: $1,189.20, $1,160

Resistance: $1,200, $1,210, $1,220

Silver no reaction

Silver volatility slowly dries out as the price traded in a small range since the previous week. We have no clue yet on next silver next movement. It could either move sideways between $14.00 – $14.40 or smaller range. Alternatively, it could breakout lower or higher outside of the range. It is better to continue monitor from the side at the moment.

Today critical level to watch:

Support: $14.00

Resistance: $14.40, $15.00

Crude oil bounce in progress?

The price of crude oil losing altitude after the previous bounce from the red trendline. It is currently traded back to the red trendline and waiting for a trigger. Will the price bounce again from the trendline? Alternatively, will it break lower and test $65.00 – $65.78 area?

Today critical level to watch:

Support: $67.20, $65.78, $65.00

Resistance: $70.00, $72.50