Gold bearish continuation

At the end of the previous week, gold settled lower below $1,480 and inside the bearish channel. It could mean the precious metal will continue its bearish trend inside the channel. Traders could prepare to enter short positions when the price moves higher and retest the top of the channel.

Today critical levels to watch:

Support: $1,450, $1,430

Resistance: $1,480, $1,500, $1,550

Silver closed near $16.80

No bounce happened in the previous week and silver closed near $16.80. It completed the downward target and might extend the bearish movement toward $16.50. Traders might want to avoid taking long positions for now at least until a bullish pattern formed.

Today Critical levels to watch:

Support: $16.80, $16.50

Resistance: $17.00, $17.50, $17.73

Crude oil continue ranging inside $55.80 – $57.60

The price of crude oil bounced up and down inside $55.80 – $57.60 range. No breakout yet and the price expected to continue its ranging movement inside the range. Traders could continue to apply ranging strategies inside the range for now.

Today critical level to watch:

Support: $55.80, $54.50, $52.40

Resistance: $57.60