Gold waiting for a trigger to move

There is The Fed FOMC meeting today which will provide traders with guidelines over what the Fed will do next toward the rising treasury yield. We might see a major switch in trend depend on the Fed reaction. Gold price technically is in a bullish correction phase with $1,780 – $1,800 area as a target.

If the price decides to move lower, then $1,680 – $1,700 is the area to watch.

Today critical levels to watch:

Support: $1,700, $1,680, $1,550, $1,500

Resistance: $1,780, $1,800

Silver trading sideways near $26.00

No conclusive movement yet in silver price which trades near the $26.00. As long as the price stays inside the orange box area then the price will continue trading sideways. At the current time, traders will wait for momentum movement away from the orange box area to determine the silver price next direction.

Today Critical levels to watch:

Support: $25.00, $21.35, $20.00

Resistance: $26.00, $27.00, $30.00, $31.50

Crude oil traded near $65.00

Crude oil price printed another neutral close near the $65.00 handle. The price might be under pressure but it always manages to close the day near $65.00. We expect the price to make a bearish correction toward the $60.00 or $57.60 support level. However, the price might not make a bearish correction and just continue upward to test $70.00.

Today critical level to watch:

Support: $65.00, $60.00, $57.60

Resistance: $67.20, $70.00