Gold bleak week, slide further

There is no end to gold weakness this week, and it tested the major yellow area as the last line of defense. Fortunately, it can bounce before $1,200 broken. However, the bleak outlook will continue in the coming week, and it is possible for the price to slide lower and put the trend into bearish.

Today critical level to watch:

Support: $1,200, $1,190

Resistance: $1,220, $1,250, $1,260, $1,270

Silver open the door to $16

A lower low printed in the silver weekly chart, and the week will come to an end soon. The lower low open the door to $16 which is the lower part of the consolidation range. We can expect selling diminished at that level and possible bounce on the card if U.S dollar index stall and reverse.

Today critical level to watch:

Support: $16.50, $16.00, $15.80

Resistance: $16.75, $17.00, $17.20, $17.50, $18.50

Crude Oil respecting the megaphone

Crude oil was not moving as planned, it never touched the upper part of the megaphone and just falling. The price is currently moving inside the previously made channel. Yellen comment on the economy yesterday boosted optimism and put a rocket to U.S dollar. Unfortunately, all of OPEC effort after orchestrated bounce with Russia will turn to nothing.

The market can expect crude oil to continue its movement inside the channel and possibly lower in coming weeks before interest rate announcement.

Today critical level to watch:

Support: $44.70, $44.26, $43.90, $43.57,

Resistance: $45.30, $46.00, $46.20, $46.50, $47.00