Gold continues inside the triangle

Gold continues in a wait&see mode inside the triangle pattern. The weekly close below $1,300 but stick near it which show the bull and the bear in a stalemate situation. There are two major news to watch this week, U.S-North Korea meeting in Singapore and The Fed interest-rate decision.

We expect low volatility environment until the broadcast of both events.

Today critical level to watch:

Support: $1,280

Resistance: $1,300, $1,320, $1,325

Silver persistent bull

Silver is in the verge of an upside breakout. The resistance at $16.80 repeatedly challenged today, and it seems the bear is slowly losing grip. If there is strong bullish momentum, then we might see a break and close above the resistance today. However, there is two major news to watch which could reverse the current advantage for the bull.

Traders will continue in wait&see mode until further evidence of rejection or breakout appears.

Today critical level to watch:

Support: $16.50, $16.00

Resistance: $16.80, $17.00

Crude oil no launch from the support yet

Crude oil successfully defended level around $65.00 but could not stage a rally from the level yet. Previous week higher supply continues pressing the price down. We expect the price continue the trade between $65.00 – $66.00 with the lower target at the red trendline.

Today critical level to watch:

Support: $65.00, $62.80

Resistance: $65.78, $66.00, $70.00