Gold no breakout of the range

Gold currently traded between the horizontal line and the top of the channel. No breakout happens even though it is the last day of the week. The precious metal expected to continue its ranging movement until a breakout happen. Next week, the breakout will happen and traders could trade base on the breakout direction.

Today critical levels to watch:

Support: $1,450, $1,430

Resistance: $1,480, $1,500, $1,550

Silver more close inside $16.80 – $17.00

Silver return inside the $16.80 – $17.00 range and extend its ranging movement inside it. There is no breakout indication and no clue on the next direction yet. Traders could continue waiting for sideline for now and trade the breakout direction.

Today Critical levels to watch:

Support: $16.80, $16.50

Resistance: $17.00, $17.50, $17.73

Crude oil chance to move higher toward $60.00

Crude oil is building the floor at $57.60 and managed to maintain the positions above it this week. We expect crude oil to continue higher and target $60.00 in the medium-term. Traders could enter long positions near $57.60 with a stop below this week low.

Today critical level to watch:

Support: $57.60, $55.80, $54.50

Resistance: $59.50, $60.00