Gold testing $1,550 resistance

The bullish movement of gold halted at $1,550 resistance and might consolidate for a while. There is no strong bearish reaction yet and the precious metal might extend its bullish movement above the resistance. At the current time, traders might want to stay sideline and look for long positions opportunity when there is a pullback in the price. Short positions need a major bearish pattern confirmation first.

Today critical levels to watch:

Support: $1,500, $1,480, $1,450, $1,430

Resistance: $1,550

Silver touchdown at $18.50

Silver manages to reach $18.50 resistance in the previous trading day and currently, the price is testing the resistance. No reaction yet from the resistance and traders could hold long positions longer. Short positions better wait until silver formed a bearish pattern on the chart.

Today Critical levels to watch:

Support: $18.00, $17.73

Resistance: $18.50

Crude oil supported above $55.80 looking to add gain

The price managed to stay above $55.80 and today it bounce from the level. Crude oil has the potential to extend its upward movement toward the top of the channel or $57.60 resistance. Despite the bullish build-up, traders might want to stick with bearish strategies as crude oil still moves inside the bearish channel.

Today critical level to watch:

Support: $55.80, $55.00

Resistance: $57.60