Gold going nowhere

Gold has the prospect to breakout higher this week, and it launches from the bottom of the triangle. Unfortunately, the daily SMA 200 proven huge enough for the bull to conquer. The precious metal slipped back inside the triangle after the hopeful breakout. Today, gold continues its ranging movement and showing no direction yet.

Today critical level to watch:

Support: $1,300, $1,280

Resistance: $1,320, $1,325

Silver no stop yet for the bull

More bullish candlestick printed by silver despite the global strength of U.S dollar. The bull has not finished yet with silver and looking for a breakout above the red trendline. There is no guarantee the precious metal will continue upward, but there is no confirmed rejection as well. It is better to stay sideline for now and wait until strong candlestick pattern formed.

Today critical level to watch:

Support: $17.00, $16.80, $16.50, $16.00

Resistance: Red trendline

Crude oil under pressure today

The price of crude oil experience selling today after the previous day bullish close. The selling happens as fear of trade wars intensify following President Trump announced $50 billions tariff on China goods. If the situation turned bearish, then traders could expect crude oil move down to test $65.00 – $66.00 area again.

Today critical level to watch:

Support: $66.00, $65.78, $65.00, $62.80

Resistance: $70.00