Gold possible bearish reversal

A bearish reversal happened in gold prices yesterday. The price currently under pressure near $1.480 support level. If the precious metal could not climb above $1,500 by the end of the week then we could expect further weakness. At the current time, traders will wait for the price reaction toward the top of the channel and the $1,480 support level.

Today critical levels to watch:

Support: $1,480, $1,450, $1,430

Resistance: $1,500, $1,550

Silver closed near $17.50

The precious metal is under attack by the bear and might slip into a bearish trend. Fortunately, the price maintains the close above $17.50 and might be able to reverse the bearish pressure there. Similar to the gold prices movement, traders will wait for the reaction of silver near $17.50.

Today Critical levels to watch:

Support: $17.50, $17.00

Resistance: $17.73, $18.00, $18.50

Crude oil more bullish pressure

Crude oil extend its uptrend toward $57.60. The price closed near the resistance and might attempt further upward movement in the coming days. Today, there is no bullish follow-through by the bull yet. Without any bullish momentum, crude oil will trade between $55.80 – $57.60.

Today critical level to watch:

Support: $55.80, $54.50, $52.40

Resistance: $57.60