Gold
Gold had a very quiet trading session. As suggested yesterday, it is amid consolidation and may take some time before moving higher. We may also see a minor correction towards 1340. But, for the longer term, I'd continue to be long gold.
Current call: Hold longs
Silver
Silver broke resistance but is slightly extended on the Moving Averages. It needs some time to consolidate and it has firmly established a resistance in the 20.6-20.7 area. Currently I do not see a trade and would stay away till it sets up better. It could be a couple of days of choppiness for silver.
Current call: Avoid
Crude
I got crude wrong again yesterday. That is why I say that trying to catch bottoms is very difficult. I usually take only 10-20% of my trade size when I try to catch bottoms since it's a low probability trade and fails more often.
My best guess for crude at this spot would be that it bounces off support near the 38-39 area. There is some strong support there. Crude has fallen more than 20% from year highs and a reversal from here definitely seems likely. I will be keeping a close eye when it gets to 38-39.
Current call: Buy near 38-39 for a reversal