Gold mostly muted

Gold settle lower after ECB announcement, but the price has yet to make significant movement. It fell from the top of the range $1,179 to close the day near $1,170. Today the price fell further in Asian session to $1,165 but recovered back to opening price $1,170 before Asian market close.

The absence of high impact news should leave the gold muted today.

Today critical level to watch:

Support: $1,166, $1,160

Resistance: $1,170, $1,177, $1,180, $1,190, $1,200

Silver overall bearish

The price of silver was crawling up before it touched $16.00, and it currently sticks near the $17.00 mid resistance. Silver expected to continue moving near the resistance and the range might be tight between $16.90 – $17.00.

Today critical level to watch:

Support: $16.90, $16.75, $16.50, $16.40, $16.00, $15.80

Resistance: $17.00, $17.20, $17.50

Crude Oil bounced higher

Crude oil price higher Yesterday after the price bounced from $50, the bounce is normal and provide support for the future price increase. The blue trendline will become the nearest support if the price attempt to move down again.

Long term target of bullish movement in crude oil price is $58.50 – $60.

Today critical level to watch:

Support: $50.70, $50.00, $48.00, $47.00

Resistance: $51.93, $52.50