Gold first close below $1,220

Gold finally made the first close below $1,220 in the previous trading day after The Fed announced no rate-hike. The no rate-hike accompanied by the Strong commentary of U.S economy which bolsters the probability of rate-hike in September. Currently, gold could continue its weakness toward $1,200 where traders could start looking for a long position.

Today critical level to watch:

Support: $1,210, $1,200

Resistance: $1,220, $1,240, $1,250

Silver no trigger yet

Silver traded inside the triangle range, but the overall direction is bearish. There is no indication yet on next short-term direction. However, traders could look for possible short position near $15.60 and $16.00 when the price hit both levels.

Today critical level to watch:

Support: $15.00

Resistance: $15.60, $16.00, $16.30

Crude oil more bearish pressure

Crude oil rejection from $70.00 brought the price downward and currently testing $67.20. U.S inventory data reported a surplus of 3.8 million barrels vs. a deficit of 2.6 million barrels expectation. We still expect crude oil will continue its downward movement to reach the red trendline before any bounce happen.

Today critical level to watch:

Support: $67.20, $65.78, $65.00

Resistance: $70.00, $72.50