Gold
Gold had a very quiet day and continues to trade range-bound. The moving averages have caught up. With the Fed, it is almost certain it will break either side in the next session. The Fed may decide to leave interest rates unchanged (highly likely). Gold could react positively to this news and continue its march higher. I maintain yesterday's call for gold.
Current call: Buy above 1335/Short below 1310
Silver
Silver had a very quiet day like gold, and has an almost identical set-up like gold. Fed will be a huge stimulus in moving silver prices and I will be cautious with tight stops. It retracted from resistance at 19.8 yesterday and the moving averages have now caught up. I almost feel like a break to the downside will be better, but with news coming in, it is not right to be biased. Only time will tell.
Current call: Long above 19.8/Short below 19.3
Crude
As suggested yesterday, crude bounced off the crucial support near the 42-42.5 area. It gave a good move upto $43, but the API inventories being bearish moved it lower. I will continue to be long, keeping a close eye on my stops below the 42 area. With inventories, we are bound to see some good price action in crude today, hopefully to the upside.
Current call: Maintain long, keep stops below 42 area.