Gold stalemate

Another ranging day happens in gold as the bull and the bear could not make a breakout outside of the triangle range shown on the chart. Today, the stalemate situation might end after The Fed announce interest-rate and provide the market with future outlook. Hawkish commentary could push gold lower and resume its bearish trend below $1,200. On the other hand, a pessimistic outlook and no rate-hike means gold time to shine and climb above $1,200.

Today critical level to watch:

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

Resistance: $1,210, $1,220

Silver fiddling $14.40 resistance

The bull unexpectedly manages to bring silver to close near $14.40 and currently fiddling with the resistance level. It is a strong level to watch and has high odds for rejection to happen from it. However, today is special days where news could move the market. Will we see rejection or breakout from $14.40?

Today critical level to watch:

Support: $14.00

Resistance: $14.40, $15.00

Crude oil more upside?

The price of crude oil comfortably climb above $70.00 before U.S crude oil inventory data. There is not much movement today as the market waiting for the data. Without any major change in the outlook, crude oil could continue its upward movement toward $74.04.

Today critical level to watch:

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

Resistance:  $72.50, $74.80