Gold set loose above $1,300

Gold extend the bullish close in the previous day after the Fed settle to no rate-hike and affirm the central bank will be patient on future rate-hike. The statement extremely dovish and incite selling in U.S dollar index which boosts gold prices. We maintain the bullish view in gold and expect the pair to reach $1,337 in several weeks or months.

Overall, traders could expect U.S dollar index will continue under pressure at least until the second quarter which opens more room upside for gold. However, the trade war situation between the U.S and China might influence the market directions.

Today critical level to watch:

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

Resistance: $1,337

Silver topped $16.00

The bullish movement also experienced by silver as the precious metal reached $16.00 in the previous day. Currently, the price sticks near the level and waiting for a market reaction. Further upward movement is possible with or without correction in prices.

Today critical level to watch:

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

Resistance: $16.00

Crude oil no clearance above $54.50 yet

Despite the bullish movement of U.S dollar index counterpart in the previous day, crude oil could not clear $54.50 resistance. If there is no breakout in coming days then crude oil under risk of rejection from the resistance. However, a breakout above the level will trigger a medium-term bullish trend. It is better to continue sideline for now as the level is not comfortable for either short or long positions.

Today critical level to watch:

Support: $52.40, $50.00, $49.00

Resistance: $54.50, $55.00