Gold maintains the position above $1,550

The bull still has a chance to bring gold prices further upside as the precious metal closed above $1,550. This week, traders could continue to hold long positions with a stop below previous Friday low. As long as there is no close below $1,550 then traders will expect gold to reach $1,600.

Today critical levels to watch:

Support: $1,550, $1,500

Resistance: $1,586.15, $1,600

Silver bounced from $17.73

Silver also reacted bullishly at the end of the previous week. The precious metal expected to range between $17.73 – $18.50 for now with a bullish bias. Traders who has long positions could continue to hold the position with a stop below $17.73.

Today Critical levels to watch:

Support: $17.73, $17.50

Resistance: $18.00, $18.50, $19.00

Crude oil initial bearish confirmation

Crude oil finally closed below $59.50 and opened the path toward $57.60. This week, the price might consolidate near $59.50 to make further confirmation that the support level broken. Traders could observe $57.60 support level and look for long positions when there is a bullish reaction.

Today critical level to watch:

Support: $57.60

Resistance: $59.50, $60.00, $65.00