Gold slip below the triangle

The bear manages to push gold outside of the triangle and might be ready to start a new bearish trend. Despite the breakout, it is not a strong momentum candlestick and there is a possibility the bull will bring the price back inside the triangle. However, shorting at current level with a tight stop above the previous day high might be a safe way to ride the bearish move.

Today critical level to watch:

Support: $1,189.20, $1,160

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

Silver rejected and return to $14.40

Silver rejected from the $14.40 resistance in the previous day after The Fed decided to increase interest-rate and announcing 1+3 rate-hike on the line. However, the bull persistently brings the price back to $14.40 and currently traded near it. The situation back to a stalemate and both breakout or rejection scenario possible. It is the time to sit down and watch again where the price will move next.

Today critical level to watch:

Support: $14.00

Resistance: $14.40, $15.00

Crude oil bounce from $71.39

U.S crude oil inventory logged surplus of 1.9 million barrels vs. a deficit of 0.7 million barrels. The data brought crude oil down as supply exceeds demand. It is the situation which might be cheered by President Trump who wants lower oil prices and keep attacking OPEC this week. However, the weakness in crude oil did not last and the price rebound from $71.39. Now, we have the price continue higher and ready to target $74.04 and $76.12 again.

Today critical level to watch:

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

Resistance:  $72.50, $74.80