Gold waiting for direction

Gold jumped on the previous day and indicated new bullish leg initially. However, the precious metal has difficulties in cracking $1,337 and finally settled near $1,330. There is no follow through on the bullish momentum and the price currently traded at its opening level.

Today Jerome Powell speech might incite some movement in the market especially U.S dollar. When U.S dollar moves, gold should move also.

Today critical level to watch:

Support:  $1,325

Resistance: $1,337, $1,340, $1,360

Silver continue inside triangle consolidation

There is no change to the silver direction which is inside the triangle consolidation. Traders will continue waiting for a breakout to happen before the precious metal tradeable.

Today critical level to watch:

Support: $16.50, $16.00

Resistance: $16.80, $17.00

Crude oil smoothly higher

Crude oil bounced from a level near $62.80 and closed higher in Monday trading session. The upward movement will move slowly toward $65.00 – $65.78 resistance. Traders who are looking for the long position could seek it near $62.80 support level.

Today critical level to watch:

Support: $62.80, $62.50, $60.00

Resistance: $65.00, $65.78