Gold reached $1,500 resistance

Gold made a touchdown on $1,500 resistance in the previous trading day. The precious metal has strong upward momentum and might continue above the resistance. At the current time, gold might consolidate between $1,480 – $1,500 waiting for further upward momentum.

Today critical levels to watch:

Support: $1,480, $1,450

Resistance: $1,500

Silver proceed above $17.00

Silver breakout ended with a bullish close above $17.00. It is more than expected and the precious metal has more potential upside. However, at the current time, it might consolidate near $17.00 and waiting for the trigger for the next movement.

Today Critical levels to watch:

Support: $16.50, $16.00

Resistance: $16.80

Crude oil further weakness below $52.40

Crude oil certainly under trouble after the price fell below the bottom of the channel and $54.50. The weakness continues below $52.40 in the previous day. Fortunately, the price retraces higher and close near the support level. At the current time, crude oil next direction will be determined by where the closing level at the end of the week. A close above $52.40 might help the price recover upside.

Today critical level to watch:

Support: $52.40

Resistance: $54.50, $55.00