Gold looking to make another close above $1,550

The price of gold manages to maintain the position above $1,550 yesterday. However, the bearish pressure happens again today and the price tested $1,550. At the current time, gold prices have returned near its opening level. Will gold make another close near its opening level?

Today critical levels to watch:

Support: $1,550, $1,500

Resistance: $1,586.15, $1,600

Silver closed at $17.73

No breakout below $17.73. It is a stalemate situation between the bull and the bear after silver closed right at $17.73. The bearish pressure might persist and silver looking to close below $17.73. At the current time, there is no indication of bounce or breakout. Traders will continue to monitor the price reaction at $17.73.

Today Critical levels to watch:

Support: $17.73, $17.50

Resistance: $18.00, $18.50, $19.00

Crude oil more bearish pressure toward $57.60

Crude oil bounced from the $57.60 support level and recover part of its losses yesterday. The bounce does not continue as a bullish movement. On the other hand, crude oil experience another bearish pressure and might test $57.60 support level again. If the price closed below $57.60 then traders might want to avoid long positions.

If the price close above $57.60 then it is possible for crude oil to start a bounce toward $59.50 – $60.00

Today critical level to watch:

Support: $57.60

Resistance: $59.50, $60.00, $65.00