Gold slow progress near $1,200

Gold printed a bullish candlestick in the previous day but still below $1,200 handle. The price of gold might stay below the level until next week The Fed interest-rate decision. Traders might want to stay sideways for now and waiting for a trigger. We might have a strong news trigger next week and at the end of the month from OPEC.

Today critical level to watch:

Support: $1,189.20, $1,160

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

Silver fresh low

Silver printed fresh low below $14.00 but recovered by the end of the day. The bear looks eager to bring the price further downward following the major trend which is bearish. Despite the bearish situation, it is better to wait for an upward retracement and place short position at a higher level compared to shorting the support. Base on the previous day close, silver might continue its sideways movement.

Today critical level to watch:

Support: $14.00

Resistance: $14.40, $15.00

Crude oil scored big

Crude oil snapped from consecutive losses and brought the price to a level near $70.00. The upward movement happens before U.S inventory data and caused by Iran sanction. Despite the jump in prices, there is no change in the forecast yet until breakout above $70.00 or below the red trendline happens.

Traders might want to wait until breakout and retest of $70.00 happen before placing long position.

Today critical level to watch:

Support: $67.20, $65.78, $65.00

Resistance: $70.00, $72.50