Gold climb above $1,550
Yesterday, the price of gold slipped with ample bearish momentum. Fortunately, the bull returns to the market and brought gold prices up. At the end of the day, gold manages to recover most of the losses and closed near its opening level. Today bullish momentum happens as Bloomberg source confirmed that the tariff against China products will remain at least until this year U.S election.
The news dampens the market sentiment and currently gold returns above $1,550. If the price maintains the level above $1,550 by the end of the day then gold expected to start a new bullish leg.
Today critical levels to watch:
Support: $1,550, $1,500
Resistance: $1,586.15, $1,600
Silver bounce from $17.73?
Silver prices avoided a major bearish close below $17.73 and at the current time, there is a bullish reaction from the support level. Will the price bounce from the support level and continue moving upward to test $18.50?
Today Critical levels to watch:
Support: $17.73, $17.50
Resistance: $18.00, $18.50, $19.00
Crude oil waiting for further reaction
Crude oil pushed lower and almost reached $57.60 support level. The price secured a bullish close yesterday but relinquished most of its gain. There is no bullish confirmation yet from the price and traders will continue to wait for reaction near $57.60 support level for now.
Today critical level to watch:
Resistance: $59.50, $60.00, $65.00