Gold trading sideways

The movement of gold prices looks sideway near the $1,680 level. The price might continue its ranging movement near the level until the Fed FOMC meeting. Traders will monitor the price movement after the release of the interest-rate decision. If the price could climb and close above $1,700 then there is a chance of a bullish reversal.

On the other hand, a bearish continuation from the current level has $1,585 – $1,600 as the target.

Today’s critical levels to watch:

Support: $1,600, $1,585

Resistance: $1,680, $1,700, $1,780, $1,800

Silver more ranging movement

Silver prices trading sideways in the middle of $18.50 – $20.00. The price will continue its ranging movement until the release of the U.S interest rate. Traders will wait for closing above $20.00 or below $18.50 to confirm the next direction. A close above $20.00 is upward confirmation toward the $21.35 resistance level.

Today’s Critical levels to watch:

Support: $18.50, $17.73, $17.50, $16.00

Resistance: $20.00, $21.35

Crude oil closed below $85.00

Crude oil prices finally made a close below the $85.00 level. However, it is not a major bearish close which means a bullish reversal could happen. If the price start moving upward again and close above $85.00 at the end of the week then crude oil will continue the ranging movement between $85.00 – $95.25.

Today’s critical level to watch:

Support: $85.00

Resistance: $90.00, $95.25, $100.00