Gold pushed lower into the bearish channel

Gold could not maintain the position above $1,480 and the top of the channel. The price closed inside the bearish channel range which means it might continue the bearish trend inside the channel. At the current time, traders could observe the price reaction near the top of the channel. Short positions could be taken near 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 $17.00

The bear has returned and pushed the silver price lower yesterday. The price manages to close below $17.00 and might continue its bearish movement. Today, there is little bearish pressure near $17.00. If the price continue lower then we could expect a weekly close near $16.80.

Today Critical levels to watch:

Support: $17.00, $16.80, $16.50

Resistance: $17.50, $17.73

Crude oil ranging inside $55.80 – $57.60

Although crude oil trade with enough up and down momentum, the price could not break out of $55.80 – $57.60 range. We have another close in the range and crude oil expected to continue its ranging movement until the close of the week. Without any breakout, traders could continue to apply ranging strategies.

Today critical level to watch:

Support: $55.80, $54.50, $52.40

Resistance: $57.60