Gold motionless

There is no movement in gold prices yet, the precious metal range gets tighter and might be ready for explosive movement at the end of consolidation. No much to do at the moment in gold, traders could continue to watch the range between $1,280 – $1,300. If higher breakout happens, then $1,337 is the long-term target.

Today critical level to watch:

Support: $1,290, $1,280

Resistance: $1,300

Silver no clue yet on next movement

Similar to gold, the range of movement of silver continue to tighten each day. The precious metal waiting for breakout trigger and it could move either way. It is better to stay sideline for now.

Today critical level to watch:

Support:  $15.00, $14.40

Resistance: $15.60, $16.00

Crude oil challenging $52.40

The price of crude oil pointed up after it retests the level near $50.00. It is currently testing $52.40 and continue pressuring the resistance level. We think the upward movement of crude oil is inevitable and $54.50 target will become available soon.

Today critical level to watch:

Support: $50.00, $49.00

Resistance: $52.40, $54.50, $55.00