Gold boosted after the Fed

The price of gold experienced bullish sentiment after The Fed decided to hold interest-rate steady and confirm there will not be a rate increase this year. It is an extremely dovish tone and trigger sell-off in U.S dollar. The sell-off pushed gold prices up yesterday and today. However, the bullish movement has lost its momentum and reverse today.

Gold currently traded below its opening level and might continue to weaken tomorrow.

Today critical levels to watch:

Support: $1,300, $1,280

Resistance: $1,320, $1,325

Silver rejected from $15.60

Silver also lifted after the Fed interest-rate decision. The precious metal gains and tested $15.60 resistance today. But, the bullish movement unexpectedly rejected from the resistance and currently back near its opening level. If silver could not maintain its bullish movement then we could expect another test on $15.20 which might continue into a breakout below the level.

At the current time, there is no conclusion yet on silver next movement.

Today Critical levels to watch:

Support: $15.20, $15.00, $14.40

Resistance: $15.60, $16.00

Crude oil touchdown at $60.00

Crude oil has reached the target $60.00 and maintain the position above the level. There is no indication the price will reverse its current track. At the current time, traders will continue holding long position while waiting for the price reaction at $60.00. A close below $60.00 might trigger a bearish correction.

Today critical level to watch:

Support: $60.00, $57.60, $55.80

Resistance: $65.00