Gold challenging the top

Gold bull is on the run after the breakout above the triangle pattern. The precious metal is testing the October high and stay resilient near the level. It looks like gold is prepared for a breakout higher and only need trigger to move upside. U.S job data at the end of the week might become the trigger for gold movement.

Another news to watch is the OPEC meeting this week. An unclear decision might trigger sell-off in the oil market which could trigger risk-aversion and push gold upward.

Today critical level to watch:

Support: $1,234, $1,220

Resistance: $1,240, $1,250

Silver close about $14.40

Silver claimed the level above $14.40 in Wednesday and positioning itself for a more bullish move. However, there is no strong indication yet the precious metal will continue upside and $14.40 could be regarded as a neutral level. At the current level, the price could move either way. Traders will watch the resistance trendline for possible rejection.

Today critical level to watch:

Support:  $14.40, $14.00

Resistance: $15.00, $15.60

Crude oil building hope before OPEC meeting

The price of crude oil experience buying before the OPEC meeting this week. Overall trend continues bearish for now and the next trend will depend on the OPEC announcement. A vague announcement or decision will cost dearly for crude oil price. We will wait for the result of the meeting before placing any major positions.

Today critical level to watch:

Support: $52.40, $50.00

Resistance: $54.50