Gold stick near $1,550

Gold maintained the level near $1,550 but no major bullish bounce happen yet. The precious metal might stick near the level by the end of the week. Next week, gold might make another attempt to bounce from the $1,550 support level. However, if the bearish breakout happens again then gold might start correction toward $1,500.

Today critical levels to watch:

Support: $1,550, $1,500

Resistance: $1,586.15, $1,600

Silver to continue between $17.73 – $18.50

Silver bounced from $17.73 support level but no bullish follow-through yet at the current time. The precious metal set to close between $17.73 – $18.50 area and continue its consolidation. We have bullish bias and think the price of silver will reach $18.50 in the future.

Today Critical levels to watch:

Support: $17.73, $17.50

Resistance: $18.00, $18.50, $19.00

Crude oil bullish bounce from $57.60

Crude oil formed a bullish candlestick in the previous trading day and closed above Wednesday high. The price might attempt to move higher toward $59.50 – $60.00 resistance. If there is a major bearish pattern formed near the resistance then traders could enter a short position with $57.60 and $54.50 as targets.

Today critical level to watch:

Support: $57.60

Resistance: $59.50, $60.00, $65.00