Silver price showed some negative strive last week but it begins today's trading with eagerness to regain the bullish track again. Now the resistance lies at 19.38. The prices can come up to 19.65 level to confirm the downward channel formation. In today’s session the prices got a support around the 19.05 level as the dollar weakened, waiting to surpass this barrier.
Gold price tested the main bullish trend line and begins to provide bullish rebound signals now. It also confirmed the support of 1310.65 level, last week. In this week, gold can continue its bullish trend if the prices hold 1310.65 level. FOMC meet is on 21 September. Besides, Bank of Japan will also have its policy meeting on the very same day. The rate hike in September is only 20% while in December it is more than 50% so no big movements is expected before 21st December.
Gold price inched up today in attempt to move towards the key resistance level of 1325.50, and stayed above the important support of 1310.65. As long as the prices hold above this support the bullish trend will remain realistic.
Crude oil price showed some bearish trend in the afternoon session after fluctuating around 43.80 level, which indicates reproof from the upcoming trading, especially in case the price settled below 45.50 levels, which will push trading to test the most important support at 43.10 levels.
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