Gold stay below trendline but above $1,280

Gold bull managed to bring the price back above $1,280 even though it stayed below the broken trendline. The trend slowly turns bullish, and there is possibility gold will continue moving upward next week. Possible delay on U.S Tax-reform is one of the reasons gold could move upward this week. On the other hand, U.S dollar index losing ground and could return to bearish trend if the tax-reform delayed or canceled.

Traders could use $1,280 as support level to look for a long position.

Today critical level to watch:

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

Resistance: $1,300, $1,313.22, $1337, $1,390

Silver directionless

Silver move directionlessly this week as the price flip-flopping in and out $16.80 – $17.00 area. We expect the price will close near $17.00 or inside $16.80 – $17.00 and continue seeking for direction next week.

Today critical level to watch:

Support: $17.00, $16.80, $16.50, $16.00

Resistance: $17.20, $17.50, $17.73

Crude oil resting at the top

Crude oil formed a consolidation range at the top attempting to build a new floor. The bull might continue sideways movement with $60.00 as the upside target. Expect the price movement will tighten next week and explode either side. The bull has upper hand in crude oil. If the price drifted lower, traders could look for long position near the black trend line.

Today critical level to watch:

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

Resistance: $60.00, $62.50.