Gold climb toward $1,586.15

The fear of coronavirus spread across the global world. In previous Friday, there were identified the second case in the U.S. Aside from that we hear Doctor who treating Coronavirus has died after treating patients. At the current time, gold prices are testing the $1,586.16 resistance and looking for a breakout above it.

Today critical levels to watch:

Support: $1,550, $1,500

Resistance: $1,586.15, $1,600

Silver bounced from $17.73

A bounce from $17.73 support level happened in silver last Friday. The price expected to continue its movement between $17.73 – $18.50 for now. Traders will expect silver to continue upward and test $18.50. If the price formed a major bearish pattern then traders could enter short positions.

Today Critical levels to watch:

Support: $17.73, $17.50

Resistance: $18.00, $18.50, $19.00

Crude oil more bearish pressure

No bullish reaction yet in crude oil as the price continues its bearish movement below support levels. The fear of Coronavirus in China is the main cause of the current downfall in crude oil prices. China is one of the top consumers of oil in the world and the weakness expected to persist for now.

At the current time, crude oil has reached $52.40 support level and might continue its downward movement toward $50.00 support level. On the upside, $54.50 will become the resistance to look for short positions.

Today critical level to watch:

Support: $52.40, $50.00

Resistance: $54.50, $55.80, $57.60