Gold compression on the making

Gold slowly traded in a tighter range and creating compression inside the triangle shown on the daily chart. The precious metal gets cautious as The Fed interest-rate decision loom. We might see the price range continue compressing until the news released. Meanwhile, traders might want to stay sideways or trade the range.

Today critical level to watch:

Support: $1,200, $1,189.20, $1,160

Resistance: $1,210, $1,220

Silver waiting for the trigger

Silver continues traded inside the yellow box and no breakout expected under the current situation. Overall direction is bearish, but shorting at the current level is shorting against support level. Traders might want to continue stay sideline for now.

Today critical level to watch:

Support: $14.00

Resistance: $14.40, $15.00

Crude oil challenging the top of the triangle

Crude oil advance failed to close above $70.00 or above the triangle. However, the bull does not give up and make another attempt to push the price higher today. There is no conclusion yet and traders will wait until the close of the market to determine if breakout happen or not. Crude oil inventory data might become the catalyst of movement today.

Today critical level to watch:

Support: $67.20, $65.78, $65.00

Resistance: $70.00, $72.50