Gold no major movement

Gold closed above $1,200 in the Monday trading session. The close is bullish but it is not a significant close as the price stick near the resistance level. Under the current situation, gold expected to continue moving sideways and traded near $1,200 until major news trigger released.

There is news from the ECB and UK this week which could move the price. Traders might want to watch the news and market reaction before placing any position.

Today critical level to watch:

Support: $1,189.20, $1,160

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

Silver continue ranging inside the yellow box

Silver closed as bullish candlestick Yesterday, the price indicates bounce from $14.00 support level and could continue toward the top of the yellow box. There is a possibility the price could extend the upward movement toward $14.40. There is nothing to expect yet in Silver price and traders could continue to trade the range.

Today critical level to watch:

Support: $14.00

Resistance: $14.40, $15.00

Crude oil inside the triangle

Nothing out of ordinary yet in crude oil price movement. The price traded inside the triangle pattern shown on the daily chart and expected to continue its ranging movement. We have a bullish bias in crude oil but it is better to wait until the market plays out its hand. The best location to look for a long position is the red trendline.

Today critical level to watch:

Support: $67.20, $65.78, $65.00

Resistance: $70.00, $72.50