Gold playing near $1,200

The price of gold continues hovering near $1,200 and could not close above the level. We have no clue yet on gold next movement. However, growing tension in the world caused by trade wars might bring U.S dollar up and push its counterpart down.

Traders will continue to observe gold movement near $1,200 to determine if rejection or continuation will happen.

Today critical level to watch:

Support: $1,160

Resistance: $1,200, $1,210, $1,220

Silver trading between $14.00 – $14.40

Silver bouncing up and down near $14.00 support level showing no direction yet. The price of the precious metal might continue its sideways movement with a bearish bias. However, there is a possibility it will touch $14.40 before moving on to the next direction. It is better to continue trade the range $14.00 – $14.40 for now.

Today critical level to watch:

Support: $14.00

Resistance: $14.40, $15.00

Crude oil bullish pin bar near red trendline

Crude oil printed a bullish pin bar after it tests the red trendline. It is a bullish sign and the bull followed through by higher opening today. However, the price seems losing upward momentum and moving back to its opening level. If the bull continues to push the price upward then we will see the price test $70.00 again.

Today critical level to watch:

Support: $67.20, $65.78, $65.00

Resistance: $70.00, $72.50