Gold no major development

Gold crawl slowly inside the triangle consolidation and stay below $1,300 resistance. There is no major movement and the price just bouncing up and down after support or resistance touch. Traders could expect the precious metal to close the week inside the triangle.

Next week, there is U.S-North Korea summit and the FOMC interest-rate decision. Both events should drive volatility to the market.

Today critical level to watch:

Support: $1,280

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

Silver maintain strong bullish momentum

The bear could not shoo away the bull as silver stick near $16.80 resistance level. There is no breakout yet, and the bull still needs a close above $16.80 on the weekly chart to confirm bullish leg. Silver expected to close between $16.50 – $16.80 this week and traded inside the range until The Fed interest-rate decision.

Today critical level to watch:

Support: $16.50, $16.00

Resistance: $16.80, $17.00

Crude oil solidifying support

Support level intact and the range are also broken upside Yesterday. Crude oil has more chance for a bounce from the current level. As long as the price stays above $65.30 after the market close, crude oil ready for a bounce. However, the surplus trend in U.S inventory might hinder the price upside and drive it down toward red trendline.

Nevertheless, we expect the bounce to happen at the current level.

Today critical level to watch:

Support: $65.78, $65.00, $62.80

Resistance: $70.00