Gold no bullish continuation yet

Despite the bullish jump which happens in the Tuesday trading session, there is no bullish continuation yet in the gold prices. Yesterday the price attempted to move above Tuesday high. Initially, it manages to move past it, however at the end of day gold prices retreat and closed inside the Tuesday range.

At the current time, there is no strong momentum movement yet. Gold prices might continue to consolidate near Tuesday high.

Today critical levels to watch:

Support: $1,625, $1,600, $1,586.15, $1,550

Resistance: $1,650, $1,700

Silver neutral close

We have a bullish close above $17.00 handle but silver trade directionless yesterday. The price might continue to consolidate near $17.00 for now while waiting for the catalyst for the next movement. At the current time, silver range span between $17.00 – $17.73.

Today Critical levels to watch:

Support: $17.00, $16.50

Resistance: $17.50, $17.73

Crude oil closed inside Tuesday range

No momentum movement yet in crude oil which rejected from the level near $49.00. At the current time, crude oil might continue its consolidation near $49.00 with a bearish bias. As long as there is no bullish close above $50.00, crude oil expected to continue its bearish trend.

Today critical level to watch:

Support: $45.00, $42.00, $40.00

Resistance: $50.00, $52.40