Gold allowing further decline

There is no good news yet for gold bull following the price decline below $1,300. The bull keeps losing ground after the rejection from $1,337 resistance level. Today market might be of low volatility as there is no major news on the line. The focus of the market is North Korea and U.S tension which once again makes headline as North Korea consider a Hydrogen bomb test in the Pacific Ocean.

Technically, gold might continue fall toward the $1,280 support level or the blue trendline. Traders who are looking for the long position could prepare themselves near the support level.

Today critical level to watch:

Support: $1,280, $1,258

Resistance: $1,300, $1337, $1,390, $1,400, $1,430

Silver no sign of bounce yet

Silver similar to gold, lose its shine and currently testing $16.80 – $17.00 support area. The price might bounce back and forth inside the range until next direction established.

Today critical level to watch:

Support: $16.80

Resistance: $17.00, $17.50, $17.73, $18.00, $18.50

Crude oil claimed $50.00

Crude oil prices little changed, but stay above $50.00 handle. The market is waiting for producers decision on the oil output. Oil minister is holding a meeting in Vienna and will decide if they will prolong the production cut up to March 2018.

Without any major change to the price on the daily chart, it looks like crude oil could continue its climb.

Today critical level to watch:

Support: $50.00, $49.00, $48.50

Resistance: $51.00, $52.40