Gold rallying toward $1,300

Traders around the world are celebrating the new year 2019 while gold bull pumping up the price to a new height. Today, the price climb above $1,280 and getting near to $1,300 resistance level. There is nothing to change the course of gold yet as U.S dollar plummeting on the government shutdown.

Aside from the weakness of the U.S dollar, the market also warry on the slowdown in China. Recent data show the economy experience headwind following the trade wars between the country and the U.S. We could expect gold to maintain its gain and moving further upside this month.

Today critical level to watch:

Support: $1,280

Resistance: $1,290, $1,300

Silver journeyed upside

Similar to gold, the price of silver broke past the resistance $15.00 and accelerate toward $15.60. The price might stall near the resistance and consolidate. Traders could watch $15.00 as the level to place long position if correction happen.

Today critical level to watch:

Support:  $15.00, $14.40

Resistance: $15.60

Crude oil formed a bullish pattern

We still maintain the bearish outlook in crude oil as the price continues to print new fresh low. There is a bullish instance when the price testing the level near $42.00. However, there is follow through by the bull above the bullish candlestick. It is better to stay sideline for now in crude oil.

Today critical level to watch:

Support: $42.00

Resistance: $49.00, $50.00