Gold no stop before $1,337

Gold need a close above $1,320 today after it could not close above the level Yesterday. Otherwise, the range between $1,310 -$1,320 will limit price movement.

The bull is trying to build bullish momentum and bring the precious metal up and test $1,337 resistance level. Traders who are looking long position might want to wait until break and re-test of $1,320 happen. A short position could be taken if the price closed below $1,320 again today.

Today critical level to watch:

Support: $1,300, $1,280

Resistance: $1,320, $1,337

Silver no close above $17.00 yet

Yesterday, it looks bullish for silver as the price moved back above $17.00. However, the end of the day speak differently, and silver made the second close below the level. Today, the sentiment continues to subdue and no move above $17.00 yet. Although the trend is bullish, consecutive closes below $17.00 might proven fatal for the bull and could drive silver prices down.

Today critical level to watch:

Support: $16.80, $16.50

Resistance: $17.00, $17.50, $17.73, $18.00, $18.50.

Crude oil lock-on $65.00

No weakness is seen yet on crude oil after U.S crude oil inventory posted wider deficit than expected. The crude oil inventory decreased 4.9 million barrels, 1 million more than 3.9 million expectation. However, today upward movement might be driven by weakness in U.S dollar.

The outlook of U.S dollar index is negative at the start of 2018. If the weakness continues, we could see crude oil stalking level above $65.00 this year.

Today critical level to watch:

Support: $62.50, $60.00, $57.60

Resistance: $65.00