Gold capped near $1,430

Gold experienced profit-taking at the end of the previous week and settle below $1,430. There is no momentum seen in today trading session and the price has not moved much from its opening level. We might see sideways movement near the resistance level this week as the Fed interest-rate decision loom. Traders might want to avoid short positions for now as the long-term direction of gold is upward.

Today critical levels to watch:

Support: $1,400, $1,390, $1,380

Resistance: $1,430, $1,450, $1,500

Silver more bullish pressure

Silver reached the target $16.50 and show rejection from the resistance level. It tested $16.00 before turning up and recover part of its losses. Today, the bull is in control and bring the precious metal upward again. It seems silver will retest $16.50 again this week. However, we think the upward movement will be limited until the FOMC meeting.

Today Critical levels to watch:

Support: $16.00, $15.60, $15.20

Resistance: $16.50

Crude oil looking for a bounce from $55.80

The downward movement of crude oil manages to bring the price near $54.50 support level. Fortunately the bull able to return the price near $55.80 by the end of the week. This week crude oil opened above $55.80 and attempting to bounce from it. But, the upward movement losing momentum and return below Friday high.

Crude oil might trade between $55.80 – $57.60 until FOMC meeting.

Today critical level to watch:

Support: $55.80, $55.00, $54.50

Resistance: $57.60, $60.00, $65.00