Gold no breakout above $1,430

The price of gold experienced rejection in today trading session. No breakout above the resistance level yesterday and it suggests the precious metal continue its consolidation near $1,430. At the current time, the price reached the trendline and will test it. Will a bounce happens and gold maintain the level inside the triangle range? We think a close near $1,430 might happen at the end of week proceeding into FOMC meeting next week.

Today critical levels to watch:

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

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

Silver broke above $16.50

Silver closed above $16.50 after pressuring it for several days. The closure might indicate further bullish action on the card. However, the bear manages to gain control of the precious metal today. The price falls below $16.50 and might close below it. Similar to gold price situation, silver might close near $16.50 at the end of the week and waiting for the next direction.

Today Critical levels to watch:

Support: $16.00, $15.60, $15.20

Resistance: $16.50, $16.80

Crude oil continue range between $55.80 – $57.60

Crude oil tested $57.60 resistance in the previous trading day and resulted in a bearish rejection. The rejection had strong momentum which broke below $55.80. Fortunately, the price return above the support level before the end of the day and close above it. It means no clear direction yet and crude oil might 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