Gold retreat looking for support

The price of gold closed above $1,337 for the first time in the previous week as U.S under attack by hurricanes. However, at the start of this week, the precious metal opened gap down and continue slide lower. There is trend line support which predicted will provide support. If the trend line broken downside, gold might continue to test $1,300.

Today critical level to watch:

Support: $1,300, $1,280, $1,258

Resistance: $1337, $1,390, $1,400, $1,430

Silver completed upward target

The upward target of silver reached the top of channel and silver price started a correction in price. Currently, the price testing $17.73 broken resistance and it looks like the support level might be broken. If the support level was broken, silver might look to test the bottom of the channel before reversal upside.

Today critical level to watch:

Support: $17.73, $17.50, $17.00, $16.80

Resistance: $18.00, $18.50

Crude oil initial bullish bounce

Crude oil prices are under pressure previous week after a rejection from $49.00 and closed below $48.00. Fortunately, the area between $46.50 – $47.00 protected the black gold from further downside. Hurricane threat in U.S might feed more oil to the burner and bring crude oil prices higher. However, the upward strength of crude oil might be limited below $50.00 for long-term as supply issues persist.

Today critical level to watch:

Support: $48.50, $48.00, $47.31

Resistance: $50.00