Gold resume upward movement before The Fed

The price of gold continues its bullish movement above $1,300 and before The Fed interest-rate decision. It seems the bullish pressure will continue building up in gold until The Fed announce interest-rate. Currently, the market expects the Fed will not increase the rate and might stop tightening the rate.

Nevertheless, traders could use the moment to take a long position near $1,300 with a stop below $1,280. We have an upward target at $1,337.

Today critical level to watch:

Support: $1,300, $1,290, $1,280

Resistance: $1,337

Silver print higher high

Similar to gold, the price of silver print a higher high on the daily chart. However, the bull might not able to close the price above previous extreme high. We maintain the bullish outlook with a target at $16.00. If silver could surpass the level then the long-term map will change. When the price hit $16.00 and formed a strong bearish pattern, traders could look for short positions.

Today critical level to watch:

Support: $15.60, $15.20, $15.00, $14.40

Resistance: $16.00

Crude oil stays inside $52.40 – $54.50

We have a sideway situation in crude oil and looks like no breakout of the range despite a close below $52.40 yesterday. Today, the bull enters the market and bring the price back above $52.40 and near $54.50. When a test on $54.50 happens, will crude oil breakthrough above it?

Today critical level to watch:

Support: $52.40, $50.00, $49.00

Resistance: $54.50, $55.00