Gold continue ranging between $1,390 – $1,430
The upward movement of gold rejected from the level near $1,430 yesterday. It seems the price will continue its ranging movement between $1,390 – $1,430 for now. Traders could continue to apply ranging strategies between $1,390 – $1,430 with a bullish bias.
Today critical levels to watch:
Support: $1,400, $1,390, $1,380
Resistance: $1,430, $1,450, $1,500
Silver rejection from $15.20
In the previous day, silver initially manages to climb above $15.20. But at the end of the day, the price turned lower and closed below its opening level. It is a bearish indication and the price expected to continue moving lower for now. We could see a triangle pattern on the silver chart. Traders will wait for the breakout before placing long-term positions.
Today Critical levels to watch:
Support: $15.00, $14.80
Resistance: $15.20, $15.60
Crude oil further upside
No change to the crude oil outlook yet since yesterday. The price expected to continue its upward movement and traders could use $60.00 as a level to look for long positions if the price makes the correction.
Today critical level to watch:
Support: $60.00, $57.60