Gold testing the resistance $1,586.15

The bullish sentiment in gold expected to continue as there is no good news yet from China on coronavirus. At the current time, gold is testing the $1,586.15 resistance and expected to close above it. If the bull could close the price above $1,586.15 then traders will expect gold to continue its long-term bullish trend.

Today critical levels to watch:

Support: $1,550, $1,500

Resistance: $1,586.15, $1,600

Silver hanging near $18.50

The upward movement of silver prices halted before the price reach $18.50 resistance. We think the price will continue its ranging movement between $17.73 – $18.50 for now while waiting for a trigger for the next movement. If silver moves lower toward $17.73 then traders could look for an opportunity to enter long positions.

Today Critical levels to watch:

Support: $17.73, $17.50

Resistance: $18.00, $18.50, $19.00

Crude oil testing $52.40

Crude oil progressed lower and it managed to hit $52.40 support level yesterday. The price expected to continue under pressure as China dealing with coronavirus cases. Currently, there is no good news and the situation gets worse as the death toll continues to rise.

Without any breakthrough in the situation then crude oil expected to breakout below $52.40 and continue toward $50.00 support level.

Today critical level to watch:

Support: $52.40, $50.00

Resistance: $54.50, $55.80, $57.60