Gold breakout below the trendline

The advantage of the bull above $1,280 erased yesterday after the Fed announce interest-rate and provide a future outlook. No rate-hike expected and no rate-cut mentioned despite the market priced in 60% chance rate-cut. At the current time, the Fed will continue to wait patiently the same as before.

Gold slipped below $1,280 after the result and closed near the support trendline. Today, the price tumble below the trendline and might continue its downward movement toward $1,260 – $1,265 support area.

Today critical levels to watch:

Support: $1,265, $1,260

Resistance: $1,280, $1,300, $1,320, $1,325

Silver decisive close below $14.80

The price of silver finally closed below $14.80 support and ready to continue its bearish trend. Next downward target is $14.40. Traders could take short positions whenever silver make an upward correction to test the trendline.

Today Critical levels to watch:

Support: $14.40

Resistance: $14.80, $15.00, $15.20

Crude oil recover losses before the end of the trading day

In the previous trading day, crude oil fell below the bearish pin bar low. However, before the end of the day, the bull pushes the price back inside the candlestick range and closed inside it. Crude oil is bearish after previous week drop below $65.00 and we expect the price to continue lower and test $60.00.

Today critical level to watch:

Support: $60.00, $57.60, $55.80

Resistance: $65.00, $67.20, $70.00