Gold ready for a jump

The major news comes from U.S midterm election which results in line with expectation. Democrat seizes control of House of representative from Republic. Republican maintain control on Senate. The market reaction showed the hope for stabilization in the global market. While Democrat in the House, they have the abilities to challenge President Trump policies. Moreover, impeach the President when necessary.

Gold reverse its downward movement and stick around $1,234 today. The precious metal upward trend looks will continue toward daily SMA 200 as we projected.

Today critical level to watch:

Support: $1,220, $1,210, $1,200

Resistance: $1,234, $1,240, $1,250

Silver continues inside the triangle

While the U.S midterm election results positive for the global market, silver has not left the triangle pattern on its daily chart. There is hope the precious metal will continue upward but without any clear breakout above the pattern, it is better to continue stay sideline.

Today critical level to watch:

Support: $14.40, $14.00

Resistance: $15.00, $15.60

Crude oil time to reverse upside?

We still favor downside in crude oil prices toward $60.00 but it is possible the bull will enter the market at the current level and bring crude oil up. If the price moving up then $64.44 – $65.00 will become the upside target. On the other hand, $60.00 stay as downside target for crude oil.

Today critical level to watch:

Support: $63.00, $61.79, $60.00

Resistance: $65.00, $65.78, $66.00