Gold stays above $1,337

Gold bear made failed attempt to close the price below $1,337 Yesterday and the bull seize the control today. There are no winners yet as the price could reverse down and close below $1337. The Fed interest-rate decision is the major news to watch today. If the bull could maintain altitude and close the price above $1,337, then we should see the price creep higher to test recent high.

Today critical level to watch:

Support: $1,340, $1,337, $1,325, $1,320, $1,300

Resistance: $1,357, $1,360

Silver find footing near $17.00

Silver continues subdued after previous day bearish close near $17.00. The overall trend is bullish, but it looks like the bull could not bring the price higher. Will the precious metal start a new bullish leg to challenge $17.50 – $17.73 area?

Today critical level to watch:

Support: $17.00, $16.80, $16.50

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

Crude oil imminent correction

Crude oil closed below $65.00 and the short-term bullish trendline. The bearish close suggests imminent correction. The question to ask is: “Where is the expected bounce level”?

Traders could look at the chart and found $62.80 and $59.00 – $60.00 as support level to watch. Today, there are U.S crude oil inventory data with a surplus of 0.1 million barrels forecast. The higher surplus could push the price of crude oil further lower, and it is better to watch where the price close today.

A close above $62.80 with strong bullish setup will trigger buying to test recent high.

Today critical level to watch:

Support: $62.80, $62.50, $60.00

Resistance: $65.00