Gold need more bearish momentum

The price of gold extends it’s bearish close yesterday but no further bullish pressure seen today. It needs more bearish momentum to move below the horizontal support line. We still think the precious metal will target $1,390 –  $1,430 area before it turns upside.

Today critical levels to watch:

Support: $1,450, $1,430

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

Silver no breakout of $16.80 – $17.00 range

The price of silver continues downward yesterday but no close outside of $16.80 – $17.00 range yet. Traders could expect the price will continue its consolidation inside the range for now. No clue on the breakout direction and traders might want to stay sideline for now.

Today Critical levels to watch:

Support: $16.80, $16.50

Resistance: $17.00, $17.50, $17.73

Crude oil maintain the position above $57.60

We have a bullish pin bar pattern formed on crude oil daily chart. The price maintained the position above $57.60 and might continue its bullish movement. On the upside, $60.00 is the target and traders could add more long positions at the current level.

Today critical level to watch:

Support: $57.60, $55.80, $54.50

Resistance: $59.50, $60.00