Gold bounce from the triangle

Gold bullish movement continues after the bounce from the triangle top. The upward movement accelerates as U.S dollar index slips across the global market. U.S CPI data come out lower than expected which suggest the Fed might reconsider rate-hike.

Traders will continue watch news from central banks as ECB set to release Monetary Policy Meeting Accounts. Moreover, UK BOE Gov Carney Speaks will give a speech tomorrow.

Today critical level to watch:

Support: $1,350, $1,340, $1,337, $1,325, $1,320

Resistance: $1,360

Silver break above the triangle

Silver finally breakout from the top of the triangle and moving with strong bullish momentum. The precious metal is currently challenging $16.80 resistance and stick below it. Traders could use the top of triangle to look for long position while watching price reaction at $16.80.

Today critical level to watch:

Support: $16.50, $16.30, $16.00

Resistance: $16.80

Crude oil set loose above 2018 high

Crude oil breakthrough 2018 high even though U.S crude oil inventory recorded surpluses instead of the deficit as forecasted. The oil inventory logged 3.3 million barrels increase vs. a deficit of 0.6 million barrels expectation. The path of crude oil continues upward, and the market only needs a close confirmation above 2018 high.

Today critical level to watch:

Support: $65.78, $65.00, $62.80

Resistance: –