Gold checkpoint $1,250

The precious metal finally reached the checkpoint $1,250 and surpassed October high to print fresh 2018 high. It is a bullish situation for gold heading into the end of the year. We might see further upside in the precious metal as Brexit deals, ECB end of QE, The Fed interest-rate decision, U.S-China trade wars and other major events unfolding this month.

Recently, the capture of Huawei CFO stirred China and could lead to cancellation of U.S-China trade deals. Traders might want to keep close on the development of the situation.

Technically, gold has reached $1,250 and it might have price correction toward $1,240 before continuing further upside.

Today critical level to watch:

Support: $1,240, $1,234, $1,220

Resistance: $1,250

Silver hovering near $14.40

No momentum movement seen yet on silver after the precious metal bounce from $14.40. It is expected to continue its movement between the trendline and $14.40 support level for now.

Today critical level to watch:

Support:  $14.40, $14.00

Resistance: $15.00, $15.60

Crude oil swing wildly

OPEC reached consensus to limit oil production in the previous week and the cut is larger than expected which drove crude oil prices higher. However, the upward movement losing momentum near $54.50 and finally settled below $52.40 on Friday. The wild movement up and down in the previous week span between $50.00 – $54.50 and no decisive breakout yet.

Will the cut by OPEC lead crude oil upside and climb above $54.50 again?

Today critical level to watch:

Support: $52.40, $50.00

Resistance: $54.50