Gold bullish pressure on $1,586.15

Gold returns to its bullish track after bearish rejection from the $1,586.15 resistance. The precious metal expected to continue its bullish movement as the coronavirus situation show no good progress. The death toll continues to rise and the WHO expressed concern about the spread of the virus outside of China.

Under the current situation, gold might breakout above $1,586.15 resistance and extend its bullish trend.

Today critical levels to watch:

Support: $1,550, $1,500

Resistance: $1,586.15, $1,600

Silver strong bullish confirmation

Silver rebound from $17.00 support level and move with massive bullish momentum today. The precious metal expected to continue the upward movement and target $18.50 resistance. If there is no good progress on coronavirus then traders could expect a breakout above $18.50.

Today Critical levels to watch:

Support: $17.73, $17.50, $17.00

Resistance: $18.00, $18.50

Crude oil resume bearish movement below $52.40

Crude oil bull takes a breather for two days toward the $54.50 level before it start moving lower again. Today the price fall below $52.40 and expected to continue its weakness to target $50.00 handle. Traders might want to avoid long positions and take short positions only when the bullish correction happens.

Today critical level to watch:

Support: $50.00

Resistance: $52.40, $54.50, $55.80, $57.60