Gold follows channel scenario

Gold looks settled to follow the trade inside channel scenario. The price closed at the top of the channel and currently lower. There is no momentum in current movement and the absence of U.S market yesterday provide no clue for traders in the Asian session. Traders will approach Friday trading session cautiously which might result in tight range trading.

Today critical level to watch:

Support: $1,280, $1,258, $1,250

Resistance: $1,300, $1,313.22, $1337

Silver neutral situation

The sideways trend in Silver continues as the precious metal traded inside the triangle pattern. There is nothing to update yet, and traders could continue stay sideline until breakout happen.

Today critical level to watch:

Support: $16.80, $16.50, $16.00

Resistance: $17.00, $17.20, $17.50, $17.73

Crude oil burning to reach $60.00

Crude oil prices boosted in previous trading session and closed high. The bull is burning the crude oil and produce much fire before $60.00. As OPEC meeting loom, we might think current movement could turn out like Icarus in Greek Mythology. Icarus flies too close to the sun, and his wings melted before he tumbled and drown in the sea.

Will crude oil fly too high and tumbled after OPEC meeting concluded?

Today critical level to watch:

Support: $56.00, $55.23, $54.50, $52.40

Resistance: $60.00, $62.50.