Gold slipped below $1,337, re-challenge resistance

The gold price has been in an uptrend and closed above $1,337 previously. However, on Wednesday the precious metal slipped back below the resistance and attempted to move above it again today. The reassurance on North Korea missile issue put gold down. Also, President Trump secures a short-term debt ceiling deal which will fund the government for three months.

Currently, the gold price might stay near $1,337 line while the market is waiting for ECB interest rate decision later today.

Today critical level to watch:

Support: $1,300, $1,280, $1,258

Resistance: $1337

Silver sideway above $17.73

The bull and the bear is taking a side road which leads silver into consolidation period. Wednesday candlestick range is narrower than Tuesday range. Similar to gold, the bull and the bear in silver is waiting for ECB news today.

Today critical level to watch:

Support: $17.73, $17.50, $17.00, $16.80

Resistance: $18.00, $18.50

Crude oil up before inventory report

Crude oil prices on upward movement as refineries in Texas back in normal operation after Hurricane Harvey. Technically, crude oil approaching $50 resistance level and the bull need a close above $50.41 extreme high to turn the overall trend into bullish. $49.00 visited today and a good level to place long position.

Today critical level to watch:

Support: $48.50, $48.00, $47.31

Resistance: $50.00