Gold sustained by U.S dollar weakness

Gold maintain position near $1,260 – $1,265 area after initially rejected from the area. The bull returned after U.S job data released which show a mixed result. Non-farm employment show increase of 213k vs. 195k expectation. However, unemployment rate shoot from 3.8% to 4.0%.

The market currently digesting the data released and it is better to stay sideways until the direction clear. There is the possibility the price of gold will move lower before the market close as today also mark the start of trade wars between U.S and China.

Today critical level to watch:

Support: $1,250, $1,240, $1,236

Resistance: $1,260, $1,265

Silver no major movement

Silver maintain the status quo between the bull and the bear as the price stick near $16.00. Nothing to expect yet at the current time and traders will watch the weekly price close. A price close near $16.00 is neutral and suggest silver will continue trading near the level in the coming week.

Today critical level to watch:

Support: $15.60

Resistance: $16.00, $16.30, $16.50

Crude oil trading inside the projection

The projection level of crude oil span between the first and second extension level of Fibonacci. In the previous day, the price rejected from the top of the range or the second extension level. Today, the price found support at the first extension level and bounced to the middle of the range.

Without any change, crude oil might continue its ranging movement between two extension level next week.

Today critical level to watch:

Support: $72.50, $70.00

Resistance: $74.80, $75.00