Gold maintains the level above $1,550

Gold prices are under pressure today and manage to move below $1,550. At the current time, the price has recovered most of the losses and aim to close the day near its opening level. The overall trend of gold is bullish which suggests traders to continue to hold long positions. As long as no major bearish close below $1,550, traders could continue to hold long positions.

Today critical levels to watch:

Support: $1,550, $1,500

Resistance: $1,586.15, $1,600

Silver targetting a close below $17.73

Similar to the gold prices, silver experience major bearish push today below $17.73. The precious metal holding out near the level currently. Will the bull manage to close the price above $17.73 and avoid the start of the new bearish leg toward $17.00?

Today Critical levels to watch:

Support: $17.73, $17.50

Resistance: $18.00, $18.50, $19.00

Crude oil continue range between $57.60 – $59.50

In the previous downward movement, crude oil manages to found support at $57.60 and bounce from it. Yesterday, crude oil hit the $59.50 resistance level and formed a bearish candlestick reaction. Today, the bearish pressure continues and crude oil manages to reach $57.60 support level. There is a bullish reaction from the support level and crude oil currently trading in the middle of $57.60 – $59.50.

It seems the price of crude oil might continue to range between $57.60 – $59.50 for now.

Today critical level to watch:

Support: $57.60

Resistance: $59.50, $60.00, $65.00