Gold testing $1,586.15

Gold managed to reach $1,586.15 resistance and currently testing it. Will the price continue higher and printed higher high above current month high at $1,593.41? Traders will wait for reaction near the resistance level and ready for short positions if there is a major bearish reaction. On the other hand, traders who have long positions could continue to hold positions.

Today critical levels to watch:

Support: $1,550, $1,500

Resistance: $1,586.15, $1,600

Silver attempting to move above $17.73

Today, silver prices creep higher and move above $17.73 resistance. If the price could maintain the positions above $17.73 until the close of the trading day then silver will trade between $17.73 – $18.50. Traders who want to take long positions want to observe the closing level at the end of the day. A close below $17.73 is a confirmation to avoid long positions.

Today Critical levels to watch:

Support: $17.73, $17.50, $17.00

Resistance: $18.00, $18.50

Crude oil rejected from $52.40

We have a bearish reaction today and crude oil starts moving down from $52.40. If the bearish pressure continue then traders will expect crude oil to reach $50.00 support level in a short-time frame. However, if crude oil reverses its bearish pressure and close above $52.40 then a new bullish trend might happen.

Today critical level to watch:

Support: $50.00, $49.00

Resistance: $52.40, $54.50