Gold consolidation near $1,480

No reaction yet near $1,480 and gold expected to continue its consolidation near the level for now. There is an ascending triangle pattern under progress. If the precious metal could breakout above $1,480 then we will expect further upside in the price toward $1,500.

Today critical levels to watch:

Support: $1,450, $1,430

Resistance: $1,480, $1,500, $1,550

Silver stick near $17.00

The precious metal extend its close near $17.00 yesterday. No breakout above the resistance level yet which means silver will continue its ranging movement inside $16.80 – $17.00 range. Traders will stay sideline now while waiting for a breakout.

Today Critical levels to watch:

Support: $16.80, $16.50

Resistance: $17.00, $17.50, $17.73

Crude oil further bullish close

The price of crude oil extends it’s bullish close to the sixth day. There is no stop to the bullish outlook yet and traders better avoid short positions for now. When the price move lower and test $60.00, traders could look for long positions.

Today critical level to watch:

Support: $60.00, $59.50

Resistance: $65.00