Gold further bullish pressure

On the daily chart, gold extends gain above $1,390 and closed the week near $1,399. No change to the direction yet and the precious metal expected to continue its upward movement. However, a bearish correction also possible at the current level. Traders could enter a long position near $1,380 – $1,390 when the price manages to reach the area.

Today critical levels to watch:

Support: $1,390, $1,380, $1,337

Resistance: $1,400, $1,430

Silver bearish close, time for a correction?

The upward movement of silver manages to cross above $15.00 – $15.20 area. On the Friday trading session, the bull also manages to print higher high before reverse and closed lower. Today, the bull attempted to bring the price higher but silver has returned to its opening level. Will the price start bearish correction toward $15.00 – $15.20 this week?

Today Critical levels to watch:

Support: $15.20, $15.00, $14.80

Resistance: $15.60

Crude oil extends gain above $57.60

The brewing conflict between U.S and Iran is the major factor in crude oil bullish movement. Crude oil jumped from $54.50 and closed near $57.60 at the end of the previous week. Today, the price opens higher and looks will extend gain toward $60.00. Traders could use $55.80 and $57.60 as a reference level to look for long positions. Short positions are not suggested until the bear manage to print a bearish candlestick close.

Today critical level to watch:

Support: $55.80, $55.00, $54.50

Resistance: $57.60