Gold under pressure

Gold return to triangle pattern only short-lived and the precious metal slip again in the previous day. U.S dollar strength undoubtedly is the major reason for gold weakness in the previous day. Fortunately, the bull still has control and attempting to bring the price back inside the triangle. There is no conclusion yet on gold next direction. Traders will continue to see tug-o-war between the bull and the bear near triangle and $1,200 handle.

Today critical level to watch:

Support: $1,200, $1,160, $1,131.18

Resistance: $1,210, $1,220

Silver to test bottom range of $14.40 – $15.00

Silver climbed above $14.40 and suggesting the pair will trade between $14.40 – $15.00. Previous day weakness might be the sign it will test the bottom of the range. There is nothing change and traders could use the moment to trade the range.

Today critical level to watch:

Support: $14.40, $14.00

Resistance: $15.00

Crude oil more winning for the bull

Crude oil unfazed by U.S dollar strength and claimed the second target of Fibonacci extension at $76.12. It almost touches $77.13 but settles lower before it happens. We think the direction continue upside and there is nothing to do at the moment as long as crude oil not showing any weakness.

Today critical level to watch:

Support: $76.12, $75.00, $74.80

Resistance:  $77.13