Gold further upside into $1,480 – $1,500 area

Gold is shining under reintensifying tension between U.S and China on the trade war. The price gained from $1,430 to $1,480 only in four days. At the current time, traders who have long positions could continue to hold it. On the other hand, traders who look for short positions will wait for the precious metal reaction at $1,500 before entering positions.

Today critical levels to watch:

Support: $1,480, $1,450

Resistance: $1,500

Silver breakout above $16.50

Silver breakout above $16.50 in today trading session and almost reach $16.80 resistance. The precious metal upward momentum is strong and there is no reason to take short positions yet. Silver next trend will depend on the price closing level today. A close below $16.50 will cancel the current bullish outlook. Meanwhile, a close above $16.50 will confirm the breakout.

Today Critical levels to watch:

Support: $16.50, $16.00

Resistance: $16.80

Crude oil slip below $54.50

No more bounce from $54.50 or the bottom of the channel in crude oil. The price slipped and closed below $54.50. Crude oil expected to continue its weakness toward $52.40 and consolidate between $52.40 – $54.50 for now. However, if the price could return above $54.50 by the end of the week then we might see bullish reversal happen.

Today critical level to watch:

Support: $52.40

Resistance: $54.50, $55.00