Gold stick near $1,430

A bearish reaction happened in gold prices yesterday. The price tested $1,430 and turned lower to close below Friday low. However, the bearish pressure do not continue today and gold return to the level near $1,430. Same as previous analysis, we think the precious metal will stick near $1,430 at least until next week FOMC meeting.

Today critical levels to watch:

Support: $1,430, $1,400, $1,390, $1,380

Resistance: $1,450, $1,500

Silver more pressure toward $16.50

Silver bull relentlessly attacking $16.50 resistance and printed higher close each day. The precious metal seems will make a breakout soon. If breakout happen then $16.80 and trendline are the upside target. On the other hand, it is possible the price halted at $16.50 several days and turn lower before the FOMC meeting next week.

Today Critical levels to watch:

Support: $16.00, $15.60, $15.20

Resistance: $16.50, $16.80

Crude oil to range between $55.80 – $57.60

Crude oil finally bounced from $55.80 support level and closed near $57.60 in the previous trading day. The price has upside potential toward $57.60 before turning lower. If the resistance is broken then crude oil might continue toward $59.50 – $60.00. We think crude oil will continue its ranging movement between $55.80 – $57.60 for now.

Today critical level to watch:

Support: $55.80, $55.00, $54.50

Resistance: $57.60, $60.00, $65.00