Gold launched after the Fed

No rate-cut, and no planned rate-cut in the future. But, the Fed speech confirmed there will not be any rate-hike soon. Gold prices jumped on the announcement and continue its upward stride today. The launch from $1,337 support level reached $1,380 – $1,400 resistance in several days.

There is no change in the direction yet and gold might be able to continue upward above $1,400.

Today critical levels to watch:

Support: $1,390, $1,380, $1,337

Resistance: $1,400

Silver break loose above $15.00

We have a breakout above $15.00 and $15.20. The breakout confirmed the continuation of the bullish trend in silver and the price might not fall below $15.00 again. Traders could prepare long positions when pullback happens. $15.60 is the nearest upside target.

Today Critical levels to watch:

Support: $15.20, $15.00, $14.80

Resistance: $15.60

Crude oil W pattern confirmation?

The upward movement of crude oil broke above $54.50 today. It is an important event as the price forming W pattern and in the process of bottoming out. If the price close above $54.50 then we could assume crude oil trend has switched to bullish and traders could enter long positions near $54.50.

Today critical level to watch:

Support: $55.00, $54.50, $52.40, $50.00

Resistance: $55.80, $57.60