Gold tested resistance $1,586.15

The test on $1,586.15 resistance happened yesterday and gold prices retraced more than half of its gain. At the current time, gold prices slightly lower and testing the previous day low. If gold continues its downward movement then we will expect the price to test $1,550

Traders could prepare to enter long positions near the support level when there is a bullish reaction.

Today critical levels to watch:

Support: $1,550, $1,500

Resistance: $1,586.15, $1,600

Silver rejected from the level near $18.50

Silver rejected from the level near $18.50 yesterday and the price falls back below Friday high. No breakout and no further bullish confirmation yet. Currently, the price of silver pushed lower below the previous day low. Will the price continue lower and target $17.73 support level?

Today Critical levels to watch:

Support: $18.00, $17.73, $17.50

Resistance: $18.50, $19.00

Crude oil retraced from $65.00

Crude oil traded lower yesterday after the price hit a level near $65.00. No-touch on the resistance yet and currently the price move below the previous day low. We think crude oil has more upside in the price and traders might want to avoid placing long-term short positions for now.

If the price move lower and reach $60.00 then traders could consider long positions.

Today critical level to watch:

Support: $60.00, $59.50

Resistance: $65.00