Gold more consolidation

There is nothing change in gold price movement. The precious metal traded inside the triangle pattern and stick near $1,200. It is moving as expected before The Fed interest-rate decision this week and traders could expect gold to continue moving inside the triangle pattern until news releases. Is it the best time to trade the range? base on the weight of the news, it is better to stay sideline and ride in the breakout direction.

Today critical level to watch:

Support: $1,200, $1,189.20, $1,160

Resistance: $1,210, $1,220

Silver stay inside $14.00 – $14.40 range

Silver following gold price movement which is traded within a range. While gold trading inside a triangle range, silver traded between two horizontal lines. The range continues holding out between $14.00 – $14.40 and we could expect no breakout until The Fed this week.

Today critical level to watch:

Support: $14.00

Resistance: $14.40, $15.00

Crude oil launched upside

The bull makes a clean bounce from $70.00 as expected and the crude oil prices almost touch $72.49 target level. It is clearly a bullish sign and crude oil expected to continue the uptrend from the current level. However, the bull still needs to maintain a close above previous week high to confirm the strength of the bullish move.

Today critical level to watch:

Support: $70.00, $67.20, $65.78, $65.00

Resistance:  $72.50, $74.80