Gold testing the breakout level $1,430

Gold could not surpass $1,430 after the Fed decision to lower-interest-rate and provide no clue on the next interest-rate decision. However, the precious metal gained after a recent threat by President Trump to China. The President planned additional tariff on $300 billion China’s imported goods which will be implemented on September 1.

At the current time, gold looks will test broken $1,430 resistance. If it could close the week above $1,430 then we could expect further upside in the coming week. $1,500 will become the long-term target of gold.

Today critical levels to watch:

Support: $1,430, $1,400, $1,390, $1,380

Resistance: $1,450, $1,500

Silver bounced from $16.00

The bearish pressure in silver price stopped as the pair reversed upside from $16.00 support level. However, the price come back under pressure again today and currently testing $16.00. Will it bounce from the support level? Alternatively, will it continue lower and deepen the correction toward $15.60?

Today Critical levels to watch:

Support: $15.60, $15.20

Resistance: $16.00, $16.50, $16.80

Crude oil major bearish pressure

Yesterday, crude oil prices fell sharply from above $57.60 to close at $54.50. The price has strong bearish momentum and might continue in the coming days or weeks. At the current time, the price finds support at $54.50 and testing $55.80. We think the price will be settled between $54.50 – $55.80 and consolidate inside it next week before continuing lower.

Today critical level to watch:

Support: $55.00, $54.50

Resistance: $55.80, $57.60, $60.00, $65.00