Gold reach target, looking for a bounce?

The gold price depreciated more and reached our projected target near the broken red channel. The price will look for a rebound from the current level, but under growing fundamental development, gold might move down further.

Weekly chart project extension toward $1,100 before the bull will move into gold. Also, $1,200 – $1,220 area will limit the uptrend if the price manage to reach it.

Today critical level to watch:

Support: $1,138, $1,100

Resistance: $1,150, $1,160, $1,166, $1,170, $1,177

Silver unable to attain $17

Lower close in silver price dismissed its intention to take over $17.00. The price drifting lower but not confirmed bearish continuation yet. It still needs to close below $16.60 before the trend turns bearish. Blue trendline if the final support level which is hard to crack, and it will become the target of downward movement.

Today critical level to watch:

Support: $16.50, $16.40, $16.00, $15.80

Resistance: $16.75, $16.90, $17.00, $17.20, $17.50

Crude Oil not enough gas

Bullish trend in crude oil price face a threat as it moves lower, it is still safe, but more selling below $49.60 will threaten recent bullish sentiment. Good news from U.S oil inventory wider deficit dampened by the strength of U.S dollar, it might be temporary though until the U.S dollar start correction.

Today critical level to watch:

Support: $50.70, $50.00, $49.60

Resistance: $51.93, $52.40, $54.50, $55.00