Gold waiting for a trigger

Gold closed inside $1,480 – $1,500 range by the end of the week and show no clue in the next direction. The precious metal might continue its ranging movement. However, the Brexit development might turn awry after the UK parliament rejected the draft proposal by Boris Johnson. The prime minister obliged to ask extension to the EU.

The situation on Brexit could turn worse especially when hard-Brexit or no extension happens.

Today critical levels to watch:

Support: $1,480, $1,450, $1,430

Resistance: $1,500, $1,550

Silver closed near $17.50 and top trendline

Silver settled near both resistances which mean no rejection. Technically, it might attempt a breakout this week. If the precious metal could breakout and close above $17.73 then traders could expect further upside movement toward $18.50.

Today Critical levels to watch:

Support: $17.50, $17.00, $16.80

Resistance: $17.73

Crude oil initial rejection from $54.50

A bearish rejection happened at the end of previous week trading. Crude oil might continue its bearish trend inside the bearish channel. However, if the bull traders could push the price above $54.50 and top of channel then crude oil might have changed in the short-term trend from bearish to bullish.

Today critical level to watch:

Support: $52.40

Resistance: $54.50, $55.80, $57.60