Gold time to become bearish?

The price of gold climbed above the top of the channel in the previous week. However, the bullish pressure did not hold out and gold closes below the top of channel again. This week, we expect the precious metal to continue under pressure and might start a new bearish trend toward $1,430.

Today critical levels to watch:

Support: $1,450, $1,430

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

Silver settle inside $16.80 – $17.00 range

In the previous week, the price of silver climbed above $17.00 and managed to secure close above it. However, the price could not maintain its level and return inside $16.80 – $17.00 range. This week, silver expected to continue its ranging movement inside $16.80 – $17.00 while waiting for a breakout.

Today Critical levels to watch:

Support: $16.80, $16.50

Resistance: $17.00, $17.50, $17.73

Crude oil secured a close above $57.60

The price of crude oil experienced a strong bearish pressure last week and almost reached the $54.50 support level. But, the price reversed upside and rallied from the level near $54.50 to above $57.60. At the end of the week, it settled above the resistance level.

This week, crude oil might continue its uptrend and use $57.60 as support level to bounce from. Traders could look for long positions near the support level.

Today critical level to watch:

Support: $55.80, $54.50, $52.40

Resistance: $57.60