Gold bounce from $1,280

No breakout below $1,280 today after the bear testing the support level. Gold on the other hand bounces and currently traded at the middle of $1,280 – $1,300. We expect the precious metal to continue its upward movement, test $1,300 and eventually break higher.

The situation dominated by uncertainties in U.S government and possible less rate-hike by The Fed. However, the risk still not out of the market as two months later the U.S and China will decide how they will treat each other on the trade issue.

Today critical level to watch:

Support: $1,280

Resistance: $1,290, $1,300

Silver maintain the level above $15.60

It is unfortunate for the bear as previous day closing price close near $15.60 and dispells the bearish outlook. Today, the bull retake the control and push the price upward. Under the current situation, it looks like silver will test $16.00 soon. However, the closing price is important to watch. Another close near $15.60 is a neutral sign.

Today critical level to watch:

Support:  $15.00, $14.40

Resistance: $15.60, $16.00

Crude oil seize $52.40 in one swoop

The bull launch sharply today above $50.00 and seize the resistance $52.40 in one go. The situation is extremely bullish and could continue in coming days or weeks. We think crude oil still has the steam to reach $54.50 resistance level. Traders could start switch to the bullish side, especially when $54.50 broken.

Today critical level to watch:

Support: $50.00, $49.00

Resistance: $52.40