Gold bullish run

The direction is upward after The Fed interest-rate announcement and there is no decrease in the upward momentum yet. Gold surpasses $1,390 and tested $1,400 at the current time. We expect the bullish movement could reach $1,430 next week and might start a correction.

Traders suggested waiting for bearish correction before entering long positions. Short positions are not suggested until there is bearish close on the daily chart.

Today critical levels to watch:

Support: $1,400, $1,390, $1,380, $1,337

Resistance: $1,430

Silver follow gold upside

Silver also bullish following gold movement. The precious metal soon will reach $15.60 resistance and test it. A rejection from the resistance might push the price lower to $15.20 support level. Short positions near $15.60 could be taken but with a cautious approach. Long positions near $15.20 favored when the precious metal test it.

Today Critical levels to watch:

Support: $15.20, $15.00, $14.80

Resistance: $15.60

Crude oil return to the bullish trend

Yesterday, crude oil climbed above $54.50 and closed near $57.60. The bullish close is a confirmation to the W pattern. If a bearish correction happens then traders could look for a long position near $54.50 – $55.00. We expect the price could continue upward and target $60.00 in the medium-term.

Today critical level to watch:

Support: $55.80, $55.00, $54.50

Resistance: $57.60