Gold back to the neutral location
Gold drove down by the bear on the previous day and closed near $1,325. The situation is neutral as the market prepares for ECB interest-rate decision and U.S job data. Technically, gold back inside the blue channel range and might move inside it. However, a bounce from $1,325 with a close above $1,337 will lead gold to a new bullish trend.
Today critical level to watch:
Support: $1,325, $1,300
Resistance: $1,337, $1,340
Silver closed below $16.50 again
Silver rejected from $16.80 and closed below $16.50 support level. The bearish candlestick canceled the bullish candle which jumped above $16.50. Silver might move sideways, waiting for a trigger to form momentum candlestick.
Today critical level to watch:
Support: $16.00
Resistance: $16.50, $16.80, $17.00
Crude oil proceed inside the triangle
U.S crude oil inventory posted surplus of 2.4 million barrels vs. 2.6 million barrels expectation. The price slides down from the top of the triangle and prolongs the consolidation inside it. There is no change in the outlook, and traders could continue to use the triangle for reference to trade.
Today critical level to watch:
Support: $60.00, $59.00
Resistance: $62.50, $62.80, $65.00, $65.78