Gold consolidates near $1,500
Despite the up and down of gold prices this week, it seems the price continues to stick near $1,500 before the U.S-China trade negotiation. Expect nothing will happen at the moment in the gold prices. The price might start moving sharply after the result of the trade negotiation announced.
Today critical levels to watch:
Support: $1,480, $1,450, $1,430
Resistance: $1,500, $1,550
Silver set to close inside $17.50 – $17.73
Silver provides us with bearish rejection candlestick this week. The price continues rejected from $17.73 resistance and suggested us silver will start a bearish movement. However, the sentiment might get a pause now as the price return inside $17.50 – $17.73 range. Same reaction as gold prices, silver next direction will wait for the result of trade negotiations between the U.S and China.
Today Critical levels to watch:
Support: $17.50, $17.00, $16.80
Crude oil target the top of the channel
Crude oil turned bullish after the bounce from the bottom of the channel. The price headed higher and reach $54.50 resistance today. We think the price will test the top of the channel and resume its bearish trend. If a breakout above the top of the channel followed by a close ab0ve $55.80 then we will start changing the outlook into bullish.
Today critical level to watch:
Resistance: $54.50, $55.80, $57.60