Gold slip lower below channel

The gold price was lower below the red channel. It is not a confirmation yet as the weekly still not close yet, the bearish target already reached the first target at the channel and had the second target at $1,100.

Traders need to watch how the weekly close to determining where gold heading to next.

Today critical level to watch:

Support: $1,100

Resistance: $1,138, $1,150, $1,160, $1,166

Silver bearish inside the red channel

The fall from $18.50 to $16.00 in silver need approximately one month period and the price back moving inside the bearish red channel. The momentum of bearish movement is strong and looks to break $16.00 soon; next week is crucial for the silver price. A lower close below $16.00 will jeopardize all bullish attempt in the silver price.

Today critical level to watch:

Support: $16.00, $15.80, $15.50

Resistance: $16.24, $16.40, $16.50, $16.75

Crude Oil not enough gas

The pressure in global market also experienced by the crude oil price. Fortunately, it bounces from $50 major support. The upward momentum in U.S dollar index will continue as The Fed projected three rate increase next year and if the crude oil cannot maintain its position above $50, then the correction will happen and blow all OPEC member effort to naught.

Today critical level to watch:

Support: $50.50, $50.00, $49.60

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