Gold return to bullish track?

The price of gold stage rally from below $1,500 and managed to close above $1,550. The precious metal extends its bullish movement and touches the level near $1,585. At the current time, the price is off the high and waiting for further confirmation. We think the price might consolidate between $1,550 – $1,585 and start moving lower again if it could not close above $1,585.

Today critical levels to watch:

Support: $1,550, $1,500, $1,450, $1,350

Resistance: $1,585, $1,600

Silver touched $14.00

The bounce from $12.00 get more bullish momentum and silver price closed above $13.00 yesterday. The price extends its bullish movement today and manage to touch $14.00. We think the bullish correction in silver price might continue toward $15.00 – $15.20 before it lost momentum.

Today Critical levels to watch:

Support: $13.00, $12.00, $10.00

Resistance: $14.00, $15.00

Crude oil return above $20.00

No bearish continuation below $20.00 and the price manage to return above $20.00 yesterday. At the current time, there is no strong clue about where the price will move next. However, traders could continue to use $20.00 as the support level to take long positions.

Today critical level to watch:

Support: $20.00

Resistance: $25.00, $28.74, $30.00