Gold target $1,500 and above

The price of gold makes an upward movement today and it soon will test $1,500 handle. If the price could close above $1,500 and the daily SMA 200 then traders will expect further upside in the coming days or weeks. Above $1,500, there is $1,550 handle and $1,585 to watch.

Today critical levels to watch:

Support: $1,450, $1,350

Resistance: $1,500, $1,550, $1,600

Silver bullish hope

The price of silver made bullish close yesterday for the first time since the bearish movement from $17.73. We have significant bullish movement today above the previous day high and it might extend toward $14.00 and higher. Traders might want to wait until the price hit resistance level and produce bearish reaction before entering short positions.

Today Critical levels to watch:

Support: $12.00, $10.00

Resistance: $13.00, $14.00, $15.00

Crude oil bounced from $20.00

We have a bounce from $20.00 handle and the price of crude oil currently head to $28.74 – $30.00 resistance. Crude oil bearish trend has not completed yet and traders might want to avoid long positions far from $20.00 handle. Short positions are better taken when the price reaches $30.00 and could not cross above it.

Today critical level to watch:

Support: $20.00

Resistance: $25.00, $28.74, $30.00