Gold rejection from $1,586.15

The price of gold experienced rejection from the $1,586.15 resistance and formed a bearish candlestick close yesterday. There is bearish follow-through by the bear today and the price fall below the previous day low. At the current time, gold has move back near previous day low. Will the price continue moving upward and test $1,586.16 resistance?

Today critical levels to watch:

Support: $1,550, $1,500

Resistance: $1,586.15, $1,600

Silver bearish engulfing pattern

Silver prices reverse its bullish pressure and closed yesterday’s trading session as a bearish engulfing pattern. At the current time, the price attempting to return above $17.73. If the price could return above $17.73 then it is possible that silver will resume its bullish movement.

Today Critical levels to watch:

Support: $17.50, $17.00

Resistance: $17.73, $18.00, $18.50

Crude oil bullish reaction from $50.00

Crude oil closed near $50.00 support level yesterday. The price reacted bullishly today and bounce from the support level. No conclusion yet on the crude oil next direction. It is still possible the price could reverse and continue moving lower below $50.00.

Today critical level to watch:

Support: $50.00

Resistance: $52.40, $54.50, $55.80