Gold closed near $1,500

Gold prices made a bullish bounce at the end of the week but could not close above $1,500. This week, the precious metal might attempt for a close above the averages. If the price could close above $1,500 then traders will expect further bullish movement. However, if the price continue lower and close below $1,450 then traders might want to avoid long positions.

Today critical levels to watch:

Support: $1,450, $1,350

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

Silver looking for a bullish breakthrough

Silver hold its ground at $12.00 support level and made a bounce from it. The price settle at $12.57 after the test on $13.00 resistance. This week, traders will wait for a breakout of the $12.00 – $13.00 range to determine the next direction. If a close above $13.00 happen then traders will expect further bullish correction toward $15.00

Today Critical levels to watch:

Support: $12.00, $10.00

Resistance: $13.00, $14.00, $15.00

Crude oil closed below $20.00

The price of crude oil looks will bounce from $20.00 handle but in the end, the bear managed to push the price lower and secure a close below $20.00. This week, traders will observe the price reaction and determine if crude oil will bounce from $20.00 or not.

Today critical level to watch:

Support: $20.00

Resistance: $25.00, $28.74, $30.00