Gold no major rejection from $1,500

At the end of the previous week, gold maintains the position near $1,500 resistance. The closure near $1,500 resistance means the bull still has strong control and might push the price further upside. Traders will continue to monitor the price reaction at $1,500 to determine gold next direction.

Today critical levels to watch:

Support: $1,480, $1,450

Resistance: $1,500

Silver settle between $16.80 – $17.00

Silver price closed inside $16.80 – $17.00 area at the end of the week. The price might consolidate inside the range this week until breakout happens. We still favor further upside in the precious metal and suggest traders look for long positions whenever pullback happens.

Today Critical levels to watch:

Support: $16.80, $16.50, $16.00

Resistance: $17.00

Crude oil building up bullish pressure from $52.40

Crude oil launched from $52.40 to $54.50 in Friday trading session. The price tested $54.50 and the bottom of the channel before settled below them. This week, crude oil might continue sideways between $52.40 – $54.50 and waiting for the trigger for the next movement.

Today critical level to watch:

Support: $52.40

Resistance: $54.50, $55.00