Gold hesitant above $1,300

Gold has secured a safe level above $1,300 and ready to move higher. However, in the previous day, U.S dollar index made a bounce by the end of the day and sweep its counterpart. The bounce of U.S dollar index orchestrated by President Trump statement on North Korea which is well received by the market.  Instead of answering North Korea missile launch over Japan with “Fire & Fury,” the President said, “All options are on the table.”

The price of gold technically maintains advantage as it stays above $1,300. The bull is waiting for a trigger to launch the price further upside. Traders & investors might want to monitor possible sanction on North Korea and next action by the rogue country.

Today critical level to watch:

Support: $1,300, $1,280, $1,258, $1,250, $1,244

Resistance: $1337

Silver stalemate situation

Bull traders and bear traders are in stalemate situation after silver pushed back to close below $17.50. There is no movement above $17.73 yet and the situation back to square one for silver. The bull needs a close above $17.73 to continue upward for medium-long term.

Today critical level to watch:

Support: $17.00, $16.80, $16.50, $16.00

Resistance: $17.50, $17.73

Crude oil halted drop

The price of crude oil supposes to continue its downward movement after the breakout below the triangle. Fortunately, EIA releases crude oil inventory report which shows wider deficit of 5.4 million barrels vs. 1.8 million barrels deficit expectation.

Crude oil trend turns bearish, but not quick to drop. Meanwhile, traders could look for a level to short when crude oil bounce toward the resistance level $46.50 – $47.00.

Today critical level to watch:

Support: $45.30, $45.00

Resistance: $46.50, $47.00, $47.31, $48.00