Gold in consolidation phase

The price of gold continue moving up and down near $1,600 handle. The precious metal might settle near $1,600 handle at the end of this week. Traders will continue to monitor the price reaction. Without any higher high or lower low printed, the price will continue trade sideway.

Today critical levels to watch:

Support: $1,600, $1,585, $1,550

Resistance: $1,680, $1,700

Silver closed inside $14.00 – $14.40 range

No breakout of the $14.00 – $14.40 range yet. Silver prices continue its consolidation inside the range. Even though there is a major bullish close, traders might want to wait for a further reaction first near $14.40. If there is no break and close above the range then traders could enter short positions.

Today Critical levels to watch:

Support: $14.00, $13.00

Resistance: $14.40, $15.00

Crude oil setting distance from $20.00

Crude oil add distance from $20.00 support level and closed near $25.00 yesterday. If the bullish pressure maintained then we might see the price reach $30.00 handle. At the current time, traders will wait for the price to reach the resistance level and form bearish pattern. When bearish pattern formed then traders could enter short positions.

Today critical level to watch:

Support: $20.00

Resistance: $25.00, $28.74, $30.00